Institutions and Foreign IPO Firms: The Effects of “Home†and “Host†Country Institutions on Performance

Curt B. Moore, R. Greg Bell and Igor Filatotchev

Entrepreneurship Theory and Practice, 2010, vol. 34, issue 3, 469-490

Abstract: In the current study, we develop an institutional embeddedness explanation of foreign initial public offering (IPO) performance. To explain the performance differentials of these firms, we investigate the effects of both “home†and “host†country institutional signals on IPO underpricing using a sample of foreign IPOs listed in two different institutional environments, namely, the U.S. and U.K. stock exchanges. Supporting the view that signals are institutionally embedded and that their value is not universal, we find the salience of signals associated with country of origin is contingent on the institutional environment of the listing exchange.

Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1111/j.1540-6520.2010.00383.x (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:34:y:2010:i:3:p:469-490

DOI: 10.1111/j.1540-6520.2010.00383.x

Access Statistics for this article

More articles in Entrepreneurship Theory and Practice
Bibliographic data for series maintained by SAGE Publications ().