Artikel

Does top executives' US experience matter? Evidence from US-listed Chinese firms

Foreign firms face enormous obstacles in attracting investors and analysts when issuing securities in the United States. We use US-listed Chinese firms as our research sample and find that firms that hire top executives (i.e., Chief Executive Officer [CEO] or Chief Financial Officer [CFO]) with work experience in the US or educational qualifications from the US attract more US institutional investors and analysts. Further, we find that CFOs' US experience dominates the results. Corroborating our results, we further find that firms with US-experienced CFOs are more likely to hold conference calls and voluntarily issue management forecasts, which suggests that CFOs with a US background are better at communicating with US investors and analysts and acting in alignment with US norms compared with Chinese CFOs. Collectively, our results suggest that hiring a CFO with a US background could facilitate cross-listed foreign firms to lower US investors' and analysts' information disadvantage.

Sprache
Englisch

Erschienen in
Journal: China Journal of Accounting Research ; ISSN: 1755-3091 ; Volume: 9 ; Year: 2016 ; Issue: 4 ; Pages: 267-282 ; Amsterdam: Elsevier

Klassifikation
Management
Thema
US-listed Chinese firms
Top executives' US experience
Analysts following
Institutional holdings

Ereignis
Geistige Schöpfung
(wer)
Li, Jingjing
Wei, Minghai
Lin, Bingxuan
Ereignis
Veröffentlichung
(wer)
Elsevier
(wo)
Amsterdam
(wann)
2016

DOI
doi:10.1016/j.cjar.2015.11.002
Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Li, Jingjing
  • Wei, Minghai
  • Lin, Bingxuan
  • Elsevier

Entstanden

  • 2016

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