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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
      
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Foreign ownership, bank information environments, and the international mobility of corporate governance, Journal of International Business Studies 9 (1 December) (2019). Fan, Yiwei; Hasan, Iftekhar; Sau Leung, Woon; Wang, Qingwei


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Fan, Yiwei; Hasan, Iftekhar; Sau Leung, Woon; Wang, Qingwei 
Number of authors
Status Published
Year of publication 2019 
Date 20.05.2019 
Name of article Foreign ownership, bank information environments, and the international mobility of corporate governance 
Name of journal Journal of International Business Studies
Volume of issue 50 
Number of issue 9 (1 December) 
Pages 1566-1593 
Abstract This paper investigates how foreign ownership shapes bank information environments. Using a sample of listed banks from 60 countries over 1997–2012, we show that foreign ownership is significantly associated with greater (lower) informativeness (synchronicity) in bank stock prices. We also find that stock returns of foreign-owned banks reflect more information about future earnings. In addition, the positive association between price informativeness and foreign ownership is stronger for foreign-owned banks in countries with stronger governance, stronger banking supervision, and lower monitoring costs. Overall, our evidence suggests that foreign ownership reduces bank opacity by exporting governance, yielding important implications for regulators and governments.
Free text descriptor in Finnish pankit; omistus; ulkomainen omistus; informaatio; osakkeet; tuotot; hinnat; 
Free text descriptor in English multiple regression analysis, agency theory, internationalization theories and foreign market entry, international financial integration, foreign bank ownership, stock price synchronicity 
ISSN / e-ISSN 1478-6990 
auki Internet addresses
Additional information First Online: 20 May 2019
Open Access Not known