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Paper eres2016_12:
Governance and international investment: Evidence from real estate holdings

id eres2016_12
authors Mauck, Nathan; S. McKay Price
year 2016
title Governance and international investment: Evidence from real estate holdings
source 23rd Annual European Real Estate Society Conference in Regensburg, Germany
summary The international business literature documents that higher quality corporate governance, at both the national level and the firm level, is associated with a greater likelihood to invest abroad and to take larger stakes when investing abroad. We examine a unique set of international real estate holdings and corporate governance data to evaluate the comparability of real estate investment to foreign direct investment (FDI) more broadly. Our results at both the national and firm level indicate that real estate transactions differ fundamentally from other types of FDI. Specifically, property nation governance, real estate firm headquarter nation governance, and firm level governance are negatively associated with the propensity to invest across borders. Further, firm level corporate governance is negatively related to the stake acquired in foreign property investment. These results are counter to the FDI literature.
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
ratings
session Corporate Governance
last changed 2017/11/18 16:16
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