Business Commons^™

Is More Always Better? Risk Trade-Offs Among Internationalizing New Ventures, Stephanie Fernhaber, Patricia Mcdougall-Covin

Stephanie A. Fernhaber

---

Purpose

– The purpose of this paper is to investigate how ventures manage the negative returns associated with higher levels of internationalization. Many new ventures are internationalizing to fully exploit new innovations and/or gain access to larger markets. Yet at some point the rising costs associated with internationalization outweigh any benefits, resulting in an inverted U-shaped relationship between internationalization and performance.

Design/methodology/approach

– New ventures are theorized to better manage high levels of internationalization by limiting exposure to other sources of risk. This can be achieved by leveraging greater size and/or limiting simultaneous diversification efforts on product innovation. To test …

---

Do Corporate Governance Recommendations Improve The Performance And Accountability Of Small Listed Companies?, Jacqueline Christensen, Pamela Kent, James Routledge, Jenny Stewart

Pamela Kent

---

This study examines whether the implementation of the 2003 Australian Securities Exchange Limited governance recommendations influenced the governance choices of small companies and whether compliance improves their accounting and market performance and earnings quality. Our analysis examines small and large companies because we are interested in the different effects of the governance recommendations on the two groups. The analysis shows a significant shift by small and large companies to comply with the recommendations around the time of their introduction. We find that formation of an audit committee surrounding the reform period is significantly associated with improved earnings quality for small …

---

Do Corporate Governance Recommendations Improve The Performance And Accountability Of Small Listed Companies?, Jacqueline Christensen, Pamela Kent, James Routledge, Jenny Stewart

James Routledge

---

This study examines whether the implementation of the 2003 Australian Securities Exchange Limited governance recommendations influenced the governance choices of small companies and whether compliance improves their accounting and market performance and earnings quality. Our analysis examines small and large companies because we are interested in the different effects of the governance recommendations on the two groups. The analysis shows a significant shift by small and large companies to comply with the recommendations around the time of their introduction. We find that formation of an audit committee surrounding the reform period is significantly associated with improved earnings quality for small …

---

Performance Of Family Firms During The Global Financial Crisis: Does Governance Matter?, Husam Aldamen, Keith Duncan, Simone Kelly, Ray Mcnamara

Keith Duncan

---

We investigate whether better corporate governance impacts the performance of family versus non-family firms during the Global Financial Crisis (GFC). If good governance matters then its impact should be amplified during times of exogenous financial shocks. Furthermore the impact of governance will be more pronounced for family firms as family firms are more resilient, have greater access to survival capital and have a longer term decision making focus. We find that family firms have better governance but family firms have a lower earnings weight in valuation models. However we do find that better governance increased the variability in value however …

---

Performance Of Family Firms During The Global Financial Crisis: Does Governance Matter?, Husam Aldamen, Keith Duncan, Simone Kelly, Ray Mcnamara

Ray McNamara

---

We investigate whether better corporate governance impacts the performance of family versus non-family firms during the Global Financial Crisis (GFC). If good governance matters then its impact should be amplified during times of exogenous financial shocks. Furthermore the impact of governance will be more pronounced for family firms as family firms are more resilient, have greater access to survival capital and have a longer term decision making focus. We find that family firms have better governance but family firms have a lower earnings weight in valuation models. However we do find that better governance increased the variability in value however …

---

Performance Of Family Firms During The Global Financial Crisis: Does Governance Matter?, Husam Aldamen, Keith Duncan, Simone Kelly, Ray Mcnamara

Simone Kelly

---

We investigate whether better corporate governance impacts the performance of family versus non-family firms during the Global Financial Crisis (GFC). If good governance matters then its impact should be amplified during times of exogenous financial shocks. Furthermore the impact of governance will be more pronounced for family firms as family firms are more resilient, have greater access to survival capital and have a longer term decision making focus. We find that family firms have better governance but family firms have a lower earnings weight in valuation models. However we do find that better governance increased the variability in value however …

---