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Degree of Internationalization and Performance: An Analysis of Canadian Banks

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Author Info
Walid Hejazi
Eric Santor

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Abstract

The international business literature measures the link between the degree of internationalization (DOI) of a firm's activities and its performance. The results of this literature are mixed. The authors extend the analysis to Canadian bank-level data, but they also take into account the riskiness of each bank's foreign-asset exposure. The results establish a positive, but weak, relationship between DOI and performance--one that is dependent on each bank's risk profile. The authors discuss the policy implications of their analysis.

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File URL: http://www.bankofcanada.ca/en/res/wp/2005/wp05-32.pdf
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Paper provided by Bank of Canada in its series Working Papers with number 05-32.

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Length: 42 pages
Date of creation: 2005
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Handle: RePEc:bca:bocawp:05-32

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Web page: http://www.bank-banque-canada.ca/

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Keywords: Financial institutions;

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Find related papers by JEL classification:
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  3. Bernard, Andrew B. & Bradford Jensen, J., 1999. "Exceptional exporter performance: cause, effect, or both?," Journal of International Economics, Elsevier, vol. 47(1), pages 1-25, February. [Downloadable!] (restricted)
    Other versions:
  4. Kannan Ramaswamy & K Galen Kroeck & William Renforth, 1996. "Measuring the Degree of Internationalization of a firm: A Comment," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 27(1), pages 167-177, March. [Downloadable!] (restricted)
  5. Linda S. Goldberg, 2001. "When Is U.S. Bank Lending to Emerging Markets Volatile?," NBER Working Papers 8209, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Farok J Contractor & Sumit K Kundu & Chin-Chun Hsu, 2003. "A three-stage theory of international expansion: the link between multinationality and performance in the service sector," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 34(1), pages 5-18, January. [Downloadable!] (restricted)
  7. Jason Allen & Ying Liu, 2005. "Efficiency and Economies of Scale of Large Canadian Banks," Working Papers 05-13, Bank of Canada. [Downloadable!]
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  8. Daniel Sullivan, 1994. "Measuring the Degree of Internationalization of a Firm," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 25(2), pages 325-342, June. [Downloadable!] (restricted)
  9. N Capar & M Kotabe, 2003. "The relationship between international diversification and performance in service firms," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 34(4), pages 345-355, July. [Downloadable!] (restricted)
  10. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January. [Downloadable!] (restricted)
  11. Helpman, Elhanan, 1984. "A Simple Theory of International Trade with Multinational Corporations," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 451-71, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Paul D. Gilbert & Erik Meijer, 2006. "Money and Credit Factors," Working Papers 06-3, Bank of Canada. [Downloadable!]
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