The impact of corruption on market reactions to international strategic alliances
نویسندگان
چکیده
Drawing on institutional theory, we argue that the level of corruption in an alliance partner’s country negatively affects market reaction to a focal firm’s international strategic announcement, as creates uncertainty regarding behavior partner firm. We further propose anti-bribery laws home strengthen negative relation between and reactions, while experiences challenging environments potentially attenuate relationship. Our empirical analysis covers more than 1,000 announcements involving firms from 30 countries. The findings indicate importance facet environment shapes firms’ value creation opportunities risks alliances.
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ژورنال
عنوان ژورنال: Journal of International Business Studies
سال: 2021
ISSN: ['0047-2506', '1478-6990']
DOI: https://doi.org/10.1057/s41267-021-00404-7