Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria

Areneke, Geofry and Kimani, Danson (2019). Value relevance of multinational directorship and cross-listing on MNEs national governance disclosure practices in Sub-Saharan Africa: Evidence from Nigeria. Journal of World Business, 54(4) pp. 285–306.

DOI: https://doi.org/10.1016/j.jwb.2018.10.003

Abstract

We draw on institutional isomorphism literature to develop a conceptual framework which uncovers how emerging market MNEs manage institutional tensions and complexity in corporate governance (CG) regulations within and across economic environments. Using a sample of 400 firm-year observations (2011–2015) from Nigeria, we show foreign directorship and cross-listing as significant avenues for governance isomorphism. MNEs employ these mechanisms to manage and reconcile foreign and Nigerian CG regulations whilst overcoming institutional weaknesses at home. Specifically, governance isomorphism leads to improvement of home country CG disclosures practices because of associated linkages with international CG systems through cross-listing and employment of multinational directors.

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  • Item ORO ID
  • 62367
  • Item Type
  • Journal Item
  • ISSN
  • 1090-9516
  • Keywords
  • Governance isomorphism; Institutional isomorphism; Nigeria; Cross listing (bonding); Multinational directorship; Corporate governance disclosure; National governance; Emerging markets
  • Academic Unit or School
  • Faculty of Business and Law (FBL)
  • Copyright Holders
  • © 2018 Elsevier Inc.
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