A signaling theory of institutional activism: How Norway’s sovereign wealth fund investments affect firms’ foreign acquisitions

• Main Authors: VASUDEVA, Gurneeta, NACHUM, Lilac, SAY, Gui-deng
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2018
• 主題: foreign acquisitions; information asymmetry; institutional activism; intergovernmental organizations; intermediary signaler; signaling theory; socially responsible investments; sovereign wealth funds (SWFs); Finance and Financial Management; Strategic Management Policy
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/6478; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7477/viewcontent/amj.2015.1141.pdf

Combining perspectives from institutional activism and signaling theory literatures, we suggest that an activist sovereign wealth fund (SWF) can serve as an intermediary signaler, providing cues about host countries’ institutional environment to internationalizing firms. By publicizing its investmen...