Lecture on "On the Role of Foreign Directors: New Insights from Cross-Listed Firms"
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Lecture on "On the Role of Foreign Directors: New Insights from Cross-Listed Firms"
DateandTime: 2017-04-20 08:49:26

Speaker: Dr. Zhou Haoyong, Assistant Professor, Keele Management School, Keele University, UK

Date: April 20, 2017

Time: 2:00 pm- 3:00pm

Location: Room 513, Shaw Science Hall, Central Campus

Sponsor: the Center for Economic Research Shandong University


Abstract:

This study examines the impact and effectiveness of U.S. independent directors on the board of cross-listed foreign firms. About 55 percent of foreign firms appoint U.S. independent directors before they cross-list in the U.S. market. We find that cross-listed firms with U.S. directors gain a higher increase in value through cross-listing than do firms without U.S. directors. The impact of U.S. directors is stronger for firms from weak investor protection countries, consistent with the idea that U.S. directors are effective monitors. We also find that foreign firms with U.S. directors are better acquirers in both domestic and cross-border M&As.


Bio:

Dr. Zhou Haoyong is anassistant professor in the Keele Management School at Keele University in UK. Dr. Zhou completed his Ph.D. from Department of Economics (ECON) in Copenhagen Business School. His current research deals with issues at Empirical Corporate Finance and Applied Econometrics. He has published in Global Finance Journal and Oxford Handbook of Entrepreneurial Finance. His doctoral dissertation was awarded John A. Doukas Doctoral Best Paper Award by European Financial Management Association in 2012.


For more information, please visit:

http://www.cer.sdu.edu.cn/info/1059/5932.htm 


Edited by: Zhang Xinyuan




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