INTERNATIONALISATION AND CORPORATE GOVERNANCE: AUSTRALIAN EVIDENCE

摘要

This study examines the inter dependencies between a firm's degree of internationalization and the corporate governance structure adopted. It builds on the concept of bi-directional causality and models the interaction between governance structure and the degree of internationalisation of a firm in a simultaneous-equation framework. No significant bi-directional causality is found, using a sample of sixty-one Australian firms. However, tests of unidirectional causality show that the degree of internationalisation has a significant effect on the proportion of independent non-executive directors with international experience.