Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Does Firm Location Affect Management Team Size and Reputation? Evidence from Taiwan*☆

Does Firm Location Affect Management Team Size and Reputation? Evidence from Taiwan*☆ This study explores the effect of the location of a firm’s headquarters on the firm’s management team size and reputation (MS&R) in a geographically small country (i.e., Taiwan) with numerous founding family firms. The results show that firm location quality positively relates to MS&R, and the association becomes weaker when firm profitability is higher or the founding family is present in the firm. Furthermore, the effect of firm location quality on management team reputation (team size) becomes stronger (weaker) when the CEO position is held by the founding family. Finally, the results are robust when considering endogeneity issues and other model settings. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia-Pacific Journal of Financial Studies Wiley

Does Firm Location Affect Management Team Size and Reputation? Evidence from Taiwan*☆

Download PDF
27 pages

Loading next page...
 
/lp/wiley/does-firm-location-affect-management-team-size-and-reputation-evidence-52RMvhwu0I
Publisher
Wiley
Copyright
Copyright © 2020 Korean Securities Association
ISSN
2041-9945
eISSN
2041-6156
DOI
10.1111/ajfs.12306
Publisher site
See Article on Publisher Site

Abstract

This study explores the effect of the location of a firm’s headquarters on the firm’s management team size and reputation (MS&R) in a geographically small country (i.e., Taiwan) with numerous founding family firms. The results show that firm location quality positively relates to MS&R, and the association becomes weaker when firm profitability is higher or the founding family is present in the firm. Furthermore, the effect of firm location quality on management team reputation (team size) becomes stronger (weaker) when the CEO position is held by the founding family. Finally, the results are robust when considering endogeneity issues and other model settings.

Journal

Asia-Pacific Journal of Financial Studies – Wiley

Published: Aug 1, 2020

Keywords: ; ; ; ;

References

  • Founding‐family ownership and firm performance: Evidence from the S&P 500
    Anderson, R. C.; Reeb, D. M.
  • Family firms
    Burkart, M.; Panunzi, F.; Shleifer, A.
  • Management quality, certification, and initial public offerings
    Chemmanur, T. J.; Paeglis, I.
  • Management quality, financial and investment policies, and asymmetric information
    Chemmanur, T. J.; Paeglis, I.; Simonyan, K.
  • Does geography matter in a geographically small and culturally homogeneous country?
    Chen, T. K.
  • Globalization and labor market outcomes: Wage bargaining, search frictions, and firm heterogeneity
    Felbermayr, G.; Prat, J.; Schmerer, H. J.
  • Corporate governance and performance in publicly listed, family‐controlled firms: Evidence from Taiwan
    Filatotchev, I.; Lien, Y. C.; Piesse, J.
  • Urban agglomeration and CEO compensation
    Francis, B.; Hasan, I.; John, K.; Waisman, M.
  • Cities and skills
    Glaeser, E. L.; Mare, D. C.
  • Explaining firm employment growth: Does location matter?
    Hoogstra, G. J.; Dijk, J.
  • Political connections and the cost of bank loans
    Houston, J. F.; Jiang, L.; Lin, C.; Ma, Y.
  • Top management team characteristics and accrual‐based earnings management
    Hsieh, Y. T.; Chen, T. K.; Tseng, Y. J.; Lin, R. C.
  • Owner as a manager, extended horizons and the family firm
    James, H.
  • Does corporate social responsibility (CSR) improve credit ratings?
    Jiraporn, P.; Jiraporn, N.; Boeprasert, A.; Chang, K.
  • Does geography matter? Firm location and corporate payout policy
    John, K.; Knyazeva, A.; Knyazeva, D.
  • The supply of corporate directors and board independence
    Knyazeva, A.; Knyazeva, D.; Masulis, R.
  • Dividend announcements: Cash flow signaling vs. free cash flow hypothesis
    Lang, L.; Litzenberger, R.
  • Top management team expertise and corporate real earnings management activities
    Li, C.; Tseng, Y.; Chen, T. K.
  • The impact of firm location on equity issuance
    Loughran, T.
  • Does corporate headquarters location matter for stock returns?
    Pirinsky, C.; Wang, Q.
  • The investment opportunity set and corporate financing, dividend, and compensation policies
    Smith, C.; Watts, R.
  • New firm survival: Industry, strategy, and location
    Stearns, T. M.; Carter, N. M.; Reynolds, P. D.; Williams, M. L.
  • How do family ownership, control and management affect firm value?
    Villalonga, B.; Amit, R.
  • Search, sorting, and urban agglomeration
    Wheeler, C. H.
  • Founding family firms and bank loan contracts
    Yen, J. F.; Lin, C. Y.; Chen, Y. S.