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A Two-way Causal Link between Internationalization and CEO Equity Ownership in Chinese Firms

In: Chinese International Investments

Author

Listed:
  • Xiaohui Liu
  • Jiangyong Lu

Abstract

Internationalization is a critical strategic decision for firms in both developed and emerging economies. Research generally focuses on the driving forces and outcomes of internationalization, especially the impact on CEO compensation. Since internationalization increases managerial complexity and risk premium, CEOs must be compensated accordingly. Their increased pay creates a convergence of interests between shareholders and managers. The relationship of internationalization with CEO compensation has been established in existing studies (Sanders & Carpenter, 1998; Oxelheim & Randøy, 2005) but they do not take into account the fact that CEO compensation is also an antecedent of international diversification.

Suggested Citation

  • Xiaohui Liu & Jiangyong Lu, 2012. "A Two-way Causal Link between Internationalization and CEO Equity Ownership in Chinese Firms," Palgrave Macmillan Books, in: Ilan Alon & Marc Fetscherin & Philippe Gugler (ed.), Chinese International Investments, chapter 6, pages 122-136, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-36157-7_7
    DOI: 10.1057/9780230361577_7
    as

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