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Three Essays On Managerial Decision-Making In The Pursuit Of Internationalization Strategies, Le Xu

FIU Electronic Theses and Dissertations

This dissertation investigates the important role top managers, especially chief executive officers (CEOs), play in the internationalization process of multinational enterprises (MNEs). Particularly, this dissertation highlights how managerial risk propensity shapes the choices of internationalization strategy. The first essay examines how CEOs of acquiring firms react differently to the adverse impact of negative media coverage on acquisition premiums paid to foreign target firms from the theoretical lens of agency theory. The results indicate that CEOs react less strongly to negative media coverage over their acquisitions by lowering acquisition premiums if they are granted with stock options and protected by takeover …