Facing global economic crisis: Foreign sales, ownership groups, and corporate value

Xufei Ma, Daphne W. Yiu and Nan Zhou ()

Journal of World Business, 2014, vol. 49, issue 1, 87-100

Abstract: This study extends the research on internationalization to a new organizational context – emerging market firms (EMF), and a new time context – global economic crisis. We propose a U-shaped relationship between foreign sales intensity and firm value for EMFs during global economic crisis. Further, we distinguish between EMFs’ relational owners (i.e., business groups) and transactional owners (i.e., institutional investors) to investigate their different moderating effects. We find empirical support for our hypotheses using a sample of Chinese firms during the global economic crisis in 2008. Moreover, we provide research and practice implications.

Keywords: Foreign sales; Firm value; Global economic crisis; Ownership groups; Emerging markets (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1090951613000151
Full text for ScienceDirect subscribers only

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:eee:worbus:v:49:y:2014:i:1:p:87-100

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/620401/bibliographic
http://www.elsevier. ... 620401/bibliographic

DOI: 10.1016/j.jwb.2013.02.002

Access Statistics for this article

Journal of World Business is currently edited by David Collings and Jonathan Doh

More articles in Journal of World Business from Elsevier
Bibliographic data for series maintained by Catherine Liu ().