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Conference Paper: Growth of the Firm and the Choice of Capital Market

TitleGrowth of the Firm and the Choice of Capital Market
Authors
Issue Date2017
PublisherAcademy of International Business. The Journal's web site is located at http://aib.msu.edu/publications/confproceed.asp
Citation
Proceedings of the 59th Annual Meeting of the Academy of International Business: The Contribution of MNEs to Building Sustainable Societies, Dubai, United Arab Emirates, 2-5 July 2017, p. 294 How to Cite?
AbstractGrowth capability and strategic resources such as financial capital are central to a firm’s competitiveness and success. Two critical capabilities that firms rely on are productivity, which generates resources and develops the firm internally, and acquisition capability, which obtains assets and enlarges the firm externally. Despite the strategic importance of choosing an appropriate financial market for a public offering to capture value from a firm’s growth capabilities, limited attention has been paid to this choice and its contingent factors. We examine how Chinese firms’ growth capabilities influence their choice of financial markets and suggest that productive EMFs are more likely to choose cross-listing while acquisitive EMFs are less likely. This study synthesizes the growth theory of the firm and the institution-based view of strategy. It also extends our understanding of how firms’ intrinsic capability influence the value of ‘changing external conditions.’ A dataset of 1138 Chinese Firms’ supported our hypotheses.
DescriptionSession 3.4.4 - Competitive Time: Track: 5 - Strategy and Management - M&A: The Role of Experience and Learning
Persistent Identifierhttp://hdl.handle.net/10722/245802
ISSN

 

DC FieldValueLanguage
dc.contributor.authorTang, Y-
dc.contributor.authorZheng, Y-
dc.contributor.authorWang, D-
dc.contributor.authorJiao, J-
dc.date.accessioned2017-09-18T02:17:09Z-
dc.date.available2017-09-18T02:17:09Z-
dc.date.issued2017-
dc.identifier.citationProceedings of the 59th Annual Meeting of the Academy of International Business: The Contribution of MNEs to Building Sustainable Societies, Dubai, United Arab Emirates, 2-5 July 2017, p. 294-
dc.identifier.issn2078-0435-
dc.identifier.urihttp://hdl.handle.net/10722/245802-
dc.descriptionSession 3.4.4 - Competitive Time: Track: 5 - Strategy and Management - M&A: The Role of Experience and Learning-
dc.description.abstractGrowth capability and strategic resources such as financial capital are central to a firm’s competitiveness and success. Two critical capabilities that firms rely on are productivity, which generates resources and develops the firm internally, and acquisition capability, which obtains assets and enlarges the firm externally. Despite the strategic importance of choosing an appropriate financial market for a public offering to capture value from a firm’s growth capabilities, limited attention has been paid to this choice and its contingent factors. We examine how Chinese firms’ growth capabilities influence their choice of financial markets and suggest that productive EMFs are more likely to choose cross-listing while acquisitive EMFs are less likely. This study synthesizes the growth theory of the firm and the institution-based view of strategy. It also extends our understanding of how firms’ intrinsic capability influence the value of ‘changing external conditions.’ A dataset of 1138 Chinese Firms’ supported our hypotheses.-
dc.languageeng-
dc.publisherAcademy of International Business. The Journal's web site is located at http://aib.msu.edu/publications/confproceed.asp-
dc.relation.ispartofAcademy of International Business Annual Meeting Proceedings -
dc.titleGrowth of the Firm and the Choice of Capital Market-
dc.typeConference_Paper-
dc.identifier.emailTang, Y: tangyn04@hku.hk-
dc.identifier.emailZheng, Y: yzheng@business.hku.hk-
dc.identifier.emailWang, D: danqingw@hku.hk-
dc.identifier.authorityTang, Y=rp02042-
dc.identifier.authorityZheng, Y=rp01450-
dc.identifier.authorityWang, D=rp01912-
dc.identifier.hkuros276919-
dc.identifier.spage294-
dc.identifier.epage294-
dc.publisher.placeUnited States-

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