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College of Business
AACSB International EQUIS - European Quality Improvement System
Research Seminar
[Brown Bag] Financial MNEs as Solutions to Grand Challenges
Abstract: The literature suggests that, given the increasing pressure to comply with environmental, social, and governance (ESG) investing principles, global investors as financial multinational enterprises are well positioned to foster corporate responsibility across borders and help tackle grand challenges. We add nuance to this literature by leveraging time-based agency conflict theory and institutional theory to explain why this effect should not be taken for granted and how it critically depends on the regulative, normative, and cultural–cognitive dimensions of the institutional context. Using China’s stock market liberalization programs as natural experiments that quasi-exogenously integrate emerging market firms with the global financial market, we find that these affected firms reduce the disclosure of supplier identity information - an important part of the solutions to environmental grand challenges. However, regulative, normative, and cultural–cognitive institutional support positively moderates this effect, mitigating time-based agency conflict and shifting the reevaluation of the upside and downside of voluntary supplier disclosure. We address alternative explanations of the reduction in supplier identity disclosure, such as non-ESG motivations. Our study has implications for research on stock market liberalization, corporate voluntary disclosure, and responsible investing.
Date: Oct 2 (Wed), 2024 10:30 am - 12:30 pm
Time: 10:30AM - 12:30PM
Venue: 6-207, Level 6, Lau Ming Wai Academic Building (LAU)
Details: Speaker bio: Shipeng is an Assistant Professor of Management and Strategy at the University of Hong Kong. He holds a PhD in Management from IESE Business School in Spain and has previously worked at Tilburg University in the Netherlands and City University of Hong Kong. His research has been published in journals such as Administrative Science Quarterly, Organization Science, and Journal of International Business Studies. He currently serves as a Senior Editor for Management and Organization Review and as a Deputy Editor for Organization & Environment.