报告题目: Foreign Influence on U.S. Political Activity: The Impact of Foreign Institutional Ownership on Corporate Political Spending
报告介绍：Drawing on resource dependence theory, we argue that foreign institutional investors can alleviate their exposure to environmental uncertainty in the United States by influencing their U.S. portfolio firms to increase corporate political spending (CPS). We refine resource dependency claims by identifying key boundary conditions that qualify the domestic uncertainty dependency. In particular, we maintain that the extent of foreign influence is contingent on the level of international diversification and domestic market uncertainty that these U.S. firms are subject to. Using a sample of 5,674 U.S. firms between 2000 to 2013, we find empirical support for our arguments. This study advances ownership and non-market strategies research by demonstrating that foreign institutional investors can reduce their external dependence indirectly by influencing their portfolio firms’ CPS.
Shi Wei is currently an associate professor of management at the University of Miami Business School. Professor Shi Wei graduated from Beijing Foreign Studies University, then obtained his MBA from Tulane University and his Ph.D. in Management from Rice University in 2016. His main research areas are corporate governance, executive team and corporate strategy.His research results were published in Academy of Management Journal, Strategic Management Journal, Journal of Management, Journal of Corporate Finance, Global Strategy Journal, Human Resource Management and Academy of Management Perspectives.