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Globalisation, corporate governance and firm productivity

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  • Globalisation, corporate governance and firm productivity
  • Min, Byung S.; Smyth, Russell
  • Monash University


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Title Globalisation, corporate governance and firm productivity
Similar Titles
Material Type Reports
Author(English)

Min, Byung S.; Smyth, Russell

Publisher

[Clayton]:Monash University

Date 2012
Journal Title; Vol./Issue DISCUSSION PAPER:55/12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Government and Law < Governance
Holding Monash University

Abstract

We examine the relationship between globalisation, corporate governance and firm productivity by breaking down total effects into direct and indirect effects. The estimation results, using longitudinal data from Korea, indicate that the positive effect of liberalising equity ownership on firms’ total factor productivity (TFP) was reinforced by indirect managerial effects when a firm improved its corporate governance. Our findings also confirm that the interaction of the managerial effect with increased foreign equity ownership is more significant than interaction with exports, suggesting that liberalising foreign investment in the host market is more effective in capitalising on the potential benefits of corporate governance reform than increasing exports to overseas markets, reflected in learning by exporting