Integrating contemporary finance and international business research

Bowe, Michael; Filatotchev, Igor; Marshall, Andrew

doi:10.1016/j.ibusrev.2010.01.005

Cited by 37 publications

(26 citation statements)

References 91 publications

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“…This is due to our innovative and original approach by integrating accounting and financial management with international business studies. We follow suggestions by Bowe, Filatotchev, and Marshall (2010) who advocate the interaction between the two fields.…”

Section: Discussionmentioning

confidence: 99%

Multinational subsidiary sales and performance in South East Asia

Nguyen

Rugman

2015

International Business Review

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Section: Discussionmentioning

confidence: 99%

Multinational subsidiary sales and performance in South East Asia

Nguyen

Rugman

2015

International Business Review

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“…Moreover, it contributes to understanding whether agency theory can be applied to very different institutional contexts (e.g., Eisenhardt, 1988;Aguilera & Jackson, 2003;Gomez-Mejia & Wiseman, 2007;Aguilera et al, 2008;Wiseman et al, 2012) and whether the effectiveness of corporate governance mechanisms predicted by agency theory are affected by institutional considerations (e.g., Bowe et al, 2010;Van Essen et al, 2012;Wiseman et al, 2012).…”

Section: Discussion and Concluding Remarksmentioning

confidence: 99%

“…Second, by conducting a study on two institutional settings, Italy and the UK, that can be characterised as opposite ends of a spectrum in terms of their corporate governance practices, we investigate whether agency theory can be applied to very different contexts (e.g., Bowe, Filatotchev, Marshall, 2010;Cho, Huang & Padmanabhan, 2014). Critics of agency theory have pointed out its under-contextualized nature, and hence its inability to accurately compare and explain the diversity of corporate governance practices across different institutional contexts (e.g., Aguilera & Jackson, 2003;Van Essen, Heugens, Otten & Van Oosterhout, 2012).…”

Section: Investigating Whethermentioning

confidence: 99%

The remuneration of independent directors in the UK and Italy: An empirical analysis based on agency theory

Mallin

Melis

Gaia

2015

International Business Review

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This study investigates independent non-executive directors' remuneration from an agency theory perspective, taking into account both optimal contracting and managerial power perspectives. Using a sample of 1733 independent non-executive directors' year observations in Italian and UK non-financial firms listed in the period 2007-2009, we find that in both countries independent non-executive directors' remuneration is mainly based on the observable effort they exert and their responsibilities. Our findings also show that independent non-executive directors who do not fulfil formal independence criteria, as stated in the respective national corporate governance codes, seem to be paid more than those who do fulfil such criteria, particularly in the UK.Our findings contribute to the existing literature by providing evidence on the determinants of independent non-executive directors' remuneration in two major European economies and offer insights to policy-makers by questioning the effectiveness of adopting non-binding criteria when assessing non-executive directors' independence.

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“…International finance and R&D strategy research are evolving independently from each other (Bowe et al, 2010). We attempt to integrate these scientific disciplines by studying the effects of key R&D internationalization decisions on the funding sources of MNEs' decentralized R&D activity.…”

Section: Discussionmentioning

confidence: 99%

Sources of funding for decentralized R&D activity: effects of MNE subsidiaries' entry choice and laboratory roles

Manolopoulos

2014

Multinational Business Review

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Purpose – The purpose of this paper is to explore the link between R&D internationalization and finance decisions by providing survey evidence on the funding sources of R&D in light of recent perceptions of MNEs' decentralized knowledge-related competitiveness. Design/methodology/approach – The study draws upon a survey of 83 decentralized R&D units located in countries outside the EU core of mature economies. Funding sources are classified as MNE-internal and external. Using simulation-based models, six ordered probit regression models were run with each funding source forming the dependent variable. Findings – There are three significant findings. First, decentralized R&D funding relies mainly on MNE-internal sources. Second, decentralized R&D funding patterns reflect on the interdependencies within an overall MNE R&D strategy that is articulated through varied laboratory roles. Third, while the strategy-finance interaction is confirmed, the prevalence of parent funding is challenged. Instead, evidence recorded here suggests support for the decentralized, “subsidiary-focused” perspective that has recently regained a considerable momentum in the literature. Research limitations/implications – Notwithstanding that this study reinforces the interaction between strategic decisions and funding patterns, more work is required to identify the effects of other aspects of strategy on the funding sources of decentralized R&D activity. However, it is seemingly the first study that investigates MNEs' R&D financial decisions in economies outside the EU core, incorporating also a wide array of external funding sources. Practical implications – Funding choices for decentralized R&D labs should be contingent upon their unique contribution to the competitive evolution of the MNE group. Further, R&D activity seems to leverage the autonomy of subsidiary managers. Originality/value – This research is one of the very few empirical studies providing evidence on the funding sources of decentralized R&D laboratories, and suggests possible predictors that have not been put forward hitherto.

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Integrating contemporary finance and international business research

Cited by 37 publications

References 91 publications

Multinational subsidiary sales and performance in South East Asia

Multinational subsidiary sales and performance in South East Asia

The remuneration of independent directors in the UK and Italy: An empirical analysis based on agency theory

Sources of funding for decentralized R&D activity: effects of MNE subsidiaries' entry choice and laboratory roles

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