Research in International Business and Finance最新文献_第9页

Board gender diversity, nonmarket strategy and firm performance: Evidence from emerging markets MNCs 董事会性别多样性、非市场战略和公司业绩：新兴市场跨国公司的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102462

引用次数: 0

ESG performance and green innovation in new energy enterprises: Does institutional environment matter? 新能源企业的环境、社会和公司治理绩效与绿色创新：制度环境重要吗？

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102495

{"title":"ESG performance and green innovation in new energy enterprises: Does institutional environment matter?","authors":"","doi":"10.1016/j.ribaf.2024.102495","DOIUrl":"10.1016/j.ribaf.2024.102495","url":null,"abstract":"<div><p>As the demand for sustainable production grows across Chinese society, heightened attention is being paid to new energy enterprises with superior green innovation capabilities in the current environment. Given the considerable importance of environmental, social and governance (ESG) performance to business operations, we use a sample of 192 Chinese A-share listed new energy enterprises from 2009 to 2022 to investigate the impact of ESG performance on green innovation from the institutional environment perspective. The empirical findings indicate that ESG performance and the institutional environment significantly contribute to facilitating new energy enterprises’ green innovation and the institutional environment can strengthen the promoting effect of ESG performance on green innovation. In addition, ESG performance and the institutional environment can have a significant influence on promoting green innovation in non-state-owned enterprises and new energy enterprises of all sizes, while the moderating effect of the institutional environment only has a positive influence on non-state-owned and large new energy enterprises. Finally, comparing the discrepancy between new energy enterprises’ substantive and strategic green innovation, ESG performance, institutional environment and its optimisation effect tend towards the former.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141841537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Price deregulation and investors’ IPO speculation: Evidence from Chinese registration system reform 放松价格管制与投资者的IPO投机行为：中国注册制改革的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102493

引用次数: 0

Corporate misconduct and innovation: Evidence from the pharmaceutical industry 企业不当行为与创新：制药业的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102490

{"title":"Corporate misconduct and innovation: Evidence from the pharmaceutical industry","authors":"","doi":"10.1016/j.ribaf.2024.102490","DOIUrl":"10.1016/j.ribaf.2024.102490","url":null,"abstract":"<div><p>We examine the relationship between corporate misconduct and pharmaceutical firm innovation and performance. Pharmaceutical firms obtain significantly fewer new product approvals by the U.S. Food and Drug Administration (FDA) following corporate regulatory violations, lawsuits, and Securities and Exchange Commission (SEC) regulatory enforcement actions. We also examine the potential reasons why innovative capacity is reduced for culpable firms. Following instances of misconduct, pharmaceutical firms are 50 percent less likely to engage in business expansions, engage in significantly fewer new strategic alliances and partnerships, and are awarded fewer government R&D grants. We attribute these results to the reputational loss associated with public knowledge of corporate misconduct. In support of this hypothesis, we find pharmaceutical firms experience negative cumulative abnormal stock returns (CARs) surrounding SEC enforcement announcements, and misconduct incidents increase the probability of analyst concerns. Overall, our results are consistent with the reputational loss associated with corporate misconduct being an important factor in future reductions in pharmaceutical firm innovative capacity.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141841385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Business environment optimization and labor income share of enterprises: Evidence from China 营商环境优化与企业劳动收入占比：来自中国的证据

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102491

引用次数: 0

Navigating greenwashing in the G8: Insights into family-owned firms, technology innovation, and economic policy uncertainty 八国集团中的 "洗绿 "导航：对家族企业、技术创新和经济政策不确定性的洞察

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102481

{"title":"Navigating greenwashing in the G8: Insights into family-owned firms, technology innovation, and economic policy uncertainty","authors":"","doi":"10.1016/j.ribaf.2024.102481","DOIUrl":"10.1016/j.ribaf.2024.102481","url":null,"abstract":"<div><p>Our study provides practical insights into the impact of greenwashing on Corporate Financial Performance (CFP) and investment efficiency. We delve into the moderating influences of family-owned firms, technological innovation, and economic policy uncertainty in the nexus between greenwashing and CFP. Using a Method of Moments Quantile Regression (MMQR) model and conducting robustness tests, our results suggest that in G8 nations, family-oriented stakeholders struggle to discern greenwashing due to low information asymmetry. However, technological innovation and reduced economic policy uncertainty enhance the identification of greenwashing. Greenwashing enhances firm value by improving disclosure quality, addressing stakeholder concerns, and easing financing constraints. Notably, heavily polluting and mandatory disclosure firms experience more significant economic performance from greenwashing. This study provides practical implications for firms, policymakers, and stakeholders, fostering sustainable development in G8 nations.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0275531924002745/pdfft?md5=85d3ceec2a39f9aed3823631bb28c41e&pid=1-s2.0-S0275531924002745-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141710661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Platform economy deconstructed: intellectual bases and emerging ethical issues 解构平台经济：知识基础和新出现的伦理问题

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-08-01 DOI: 10.1016/j.ribaf.2024.102497

引用次数: 0

The impact of technology on access to credit: A review of loan approval and terms in rural Vietnam and Thailand 技术对获得信贷的影响：对越南和泰国农村地区贷款审批和条件的审查

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-07-31 DOI: 10.1016/j.ribaf.2024.102504

{"title":"The impact of technology on access to credit: A review of loan approval and terms in rural Vietnam and Thailand","authors":"","doi":"10.1016/j.ribaf.2024.102504","DOIUrl":"10.1016/j.ribaf.2024.102504","url":null,"abstract":"<div><p>The acceleration of economic digitalisation has been immense in recent years and coupled with the rapid development of technology-augmented finance. However, less understood is how such technology-augmented finance has impacted access to credit within rural contexts of developing economies. Using household-level survey data, our results provide novel evidence of a negative relationship, on average, between rural households’ access to credit as measured by loan approvals, and internet access. More specifically, use of internet in rural areas of the countries under analysis reduces the chance of accessing credit by up to 65%. Moreover, when we further investigate loan terms, our findings indicate that internet users get six-month shorter loan durations and have a lower interest cost of borrowing of up to 1.2%. The results for loan approval rates are persistent for formal loans and for nations at a lower stage of economic development, i.e., only within the less developed Vietnamese rural context. Our findings provide richer insights into the impact of information and telecommunication technologies (ITC) on access to finance in developing countries characterised by significant proportions of rural areas affected by severe information asymmetry-related issues that may be amplified or reduced by increased internet connectivity. Our results carry important policy implications. On the demand side, they highlight the need to ensure that government initiatives should aim to better educate rural borrowers in relation to financial literacy and credit choices. On the supply side, our findings urge the need to introduce policies for formal lenders targeted towards the reduction of the information asymmetries pervasive in rural areas.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0275531924002976/pdfft?md5=6982ef3a028dedf648b27145bf218778&pid=1-s2.0-S0275531924002976-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141952671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

When is organisational resizing helpful or harmful for innovation outputs? 组织规模调整对创新产出是有利还是有害？

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-07-30 DOI: 10.1016/j.ribaf.2024.102503

{"title":"When is organisational resizing helpful or harmful for innovation outputs?","authors":"","doi":"10.1016/j.ribaf.2024.102503","DOIUrl":"10.1016/j.ribaf.2024.102503","url":null,"abstract":"<div><p>Research on the effect of changing staffing levels (i.e. resizing) on organisational innovation has generated mixed and often contradictory results. Recent research has attempted to reconcile such inconsistencies by showing that this effect on innovation depends on the firm’s staffing level prior to downsizing. Since firms seek to downsize as well as upsize their staffing levels, the effect of resizing (downsizing and upsizing) on innovation and the magnitude of such effect is still unknown. Using a longitudinal dataset of UK firms, we examine the effect of resizing on innovation outputs and its magnitude in resource-rich and resource-constrained firms. Our results suggest that upsizing in resource-constrained firms and downsizing in resource-rich firms is helpful for innovation, whereas upsizing in resource-rich and downsizing in resource-constrained firms have the reverse effect. Compared with resource-rich firms, the effect of resizing on innovation outputs is more pronounced in resource-constrained firms. These results have several practical managerial implications.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0275531924002964/pdfft?md5=c4e14fd14835cb09c1c7d6a54ae114f4&pid=1-s2.0-S0275531924002964-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141978639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Why do entrepreneurial firms switch lead venture capital? A double-sided matching perspective 创业公司为何要转换风险投资主导？双面匹配视角

IF 6.3 2区经济学

Research in International Business and Finance Pub Date : 2024-07-27 DOI: 10.1016/j.ribaf.2024.102498

{"title":"Why do entrepreneurial firms switch lead venture capital? A double-sided matching perspective","authors":"","doi":"10.1016/j.ribaf.2024.102498","DOIUrl":"10.1016/j.ribaf.2024.102498","url":null,"abstract":"<div><p>This paper investigates the dynamics of a switch in the lead venture capital (VC) caused by a low degree of match between the entrepreneur and VC in the previous round of investing through theoretical and empirical analysis using a large sample from the Chinese venture capital market. The results show that the lower the degree of match is, the higher the likelihood that entrepreneurial firms will switch the lead VC. The rematching of firms and VCs is also a dynamic process of switching lead VCs in the venture capital market. Especially, in multiple rounds, for both subsamples of rising startup quality and rising VC quality, we find that the lower the matching degree in the previous round, the more likely a lead VC switch occurs. However, there is no significant difference in the effect of the matching degree in the previous round on the lead VC switch in the following round in both subsamples. We also show that a lead VC switch is more likely when startups are in the growth stage, mature stage, and high-tech industries. In addition, we confirm that a lead VC switch improves the success of startups. Specifically, whether the quality of a startup rises or falls, only lead VC switches at the early stage are conducive to the VC exits and the startup’s success. In the early stage, the lead VC switch is a great shot in the arm for the company’s success, whereas, in the later stage, the lead VC switch is only the icing on the cake.</p></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":null,"pages":null},"PeriodicalIF":6.3,"publicationDate":"2024-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141851495","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0