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The role of institutional environments in cross-border mergers : a perspective from bidders’ earnings management behavior
This study examines the effects of targets’ institutional environments on bidders’ earning management behavior around cross-border mergers. Earnings management is a widely used strategy for the bidder to reduce the risk ...
The liability of foreignness in international equity investments : evidence from the US stock market
Using foreign institutional ownership data in the US from 1990 to 2007, we examine whether foreign institutional investors face liabilities of foreignness (LOF) in the US stock market. We find that foreign institutional ...