IDEAS home Printed from https://ideas.repec.org/a/bla/jomstd/v40y2003i3p705-723.html
   My bibliography  Save this article

Two Dimensions of the Internationalization of Firms

Author

Listed:
  • A. Hassel
  • M. Höpner
  • A. Kurdelbusch
  • B. Rehder
  • R. Zugehör

Abstract

ABSTRACT The paper argues that there are two dimensions of internationalization: one which refers to the production activities of firms abroad and one which focuses on the corporate governance dimension of firms. While the first one is well known in the literature on internationalization, the financial dimension has not yet been addressed empirically. At the same time there are indicators that financial internationalization is gaining importance. Using a sample of the 100 largest German companies it shows that both dimensions, the real and the financial dimension, do not co‐vary and therefore cannot be combined into one index.

Suggested Citation

  • A. Hassel & M. Höpner & A. Kurdelbusch & B. Rehder & R. Zugehör, 2003. "Two Dimensions of the Internationalization of Firms," Journal of Management Studies, Wiley Blackwell, vol. 40(3), pages 705-723, May.
    • Handle: RePEc:bla:jomstd:v:40:y:2003:i:3:p:705-723
    DOI: 10.1111/1467-6486.00357
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-6486.00357
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-6486.00357?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Lenn Gomes & Kannan Ramaswamy, 1999. "An Empirical Examination of the Form of the Relationship Between Multinationality and Performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 30(1), pages 173-187, March.
    2. Bruce A. Blonigen, 2019. "Firm-Specific Assets and the Link Between Exchange Rates and Foreign Direct Investment," World Scientific Book Chapters, in: Foreign Direct Investment, chapter 3, pages 89-120, World Scientific Publishing Co. Pte. Ltd..
    3. 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;Academy of International Business, vol. 27(1), pages 167-177, March.
    4. Torben Pedersen & Steen Thomsen, 1997. "European Patterns of Corporate Ownership: A Twelve-Country Study," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 28(4), pages 759-778, December.
    5. Allen, Franklin & Gale, Douglas, 1995. "A welfare comparison of intermediaries and financial markets in Germany and the US," European Economic Review, Elsevier, vol. 39(2), pages 179-209, February.
    6. Colin Mayer, 1998. "Financial Systems and Corporate Governance: A Review of the International Evidence," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 154(1), pages 144-144, March.
    7. Riahi-Belkaoui, Ahmed, 1996. "Internationalization, diversification strategy and ownership structure: Implications for French MNE performance," International Business Review, Elsevier, vol. 5(4), pages 367-376, August.
    8. John H Dunning, 1998. "Location and the Multinational Enterprise: A Neglected Factor?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 45-66, March.
    9. Richard E Caves, 1998. "Research on International Business: Problems and Prospects," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 5-19, March.
    10. Henk De Jong, 1997. "The Governance Structure and Performance of Large European Corporations," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 1(1), pages 5-27, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hassel, Anke & Höpner, Martin & Kurdelbusch, Antje & Rehder, Britta & Zugehör, Rainer, 2001. "Two dimensions of the internationalization of firms," MPIfG Working Paper 01/3, Max Planck Institute for the Study of Societies.
    2. Robert-Nicoud, Frédéric & Olarreaga, Marcelo & Carrère, Céline & Fugazza, Marco, 2016. "On the heterogeneous effect of trade on unemployment," CEPR Discussion Papers 11540, C.E.P.R. Discussion Papers.
    3. Nguyen, Quyen T.K. & Kim, Sylvia, 2020. "The multinationality and performance relationship: Revisiting the literature and exploring the implications," International Business Review, Elsevier, vol. 29(2).
    4. Reddy, Kotapati Srinivasa, 2016. "Institutional Voids and Tax litigation in Emerging Economies: The verdict of Vodafone cross-border acquisition of Hutchison," MPRA Paper 74264, University Library of Munich, Germany, revised 2016.
    5. Nuno Calheiros-Lobo & José Vasconcelos Ferreira & Manuel Au-Yong-Oliveira, 2023. "SME Internationalization and Export Performance: A Systematic Review with Bibliometric Analysis," Sustainability, MDPI, vol. 15(11), pages 1-36, May.
    6. Wagner, Hardy, 2004. "Internationalization speed and cost efficiency: evidence from Germany," International Business Review, Elsevier, vol. 13(4), pages 447-463, August.
    7. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    8. Dunning, John H., 2000. "The eclectic paradigm as an envelope for economic and business theories of MNE activity," International Business Review, Elsevier, vol. 9(2), pages 163-190, April.
    9. Christophe, Stephen E. & Lee, Hun, 2005. "What matters about internationalization: a market-based assessment," Journal of Business Research, Elsevier, vol. 58(5), pages 636-643, May.
    10. Oesterle, Michael-Jörg & Richta, Hannah Noriko & Fisch, Jan Hendrik, 2013. "The influence of ownership structure on internationalization," International Business Review, Elsevier, vol. 22(1), pages 187-201.
    11. Alan M. Rugman & Chang Hoon Oh, 2011. "Multinational Enterprises and Regional Economic Integration: Rethinking Key Metrics in International Business," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 4, Edward Elgar Publishing.
    12. Malhotra, Shavin & Sivakumar, K. & Zhu, PengCheng, 2011. "A comparative analysis of the role of national culture on foreign market acquisitions by U.S. firms and firms from emerging countries," Journal of Business Research, Elsevier, vol. 64(7), pages 714-722, July.
    13. Quyen T. K. Nguyen, 2017. "Multinationality and Performance Literature: A Critical Review and Future Research Agenda," Management International Review, Springer, vol. 57(3), pages 311-347, June.
    14. Kyaw, NyoNyo A. & Manley, John & Shetty, Anand, 2011. "Factors in multinational valuations: Transparency, political risk and diversification," Journal of Multinational Financial Management, Elsevier, vol. 21(1), pages 55-67, February.
    15. Benito-Osorio, Diana & Colino, Alberto & Guerras-Martín, Luis Ángel & Zúñiga-Vicente, José Ángel, 2016. "The international diversification-performance link in Spain: Does firm size really matter?," International Business Review, Elsevier, vol. 25(2), pages 548-558.
    16. Pradhan, Jaya Prakash & Singh, Neelam, 2010. "Group Affiliation and Location of Indian Firms’ Foreign Acquisitions," MPRA Paper 24018, University Library of Munich, Germany.
    17. Verbeke, Alain & Brugman, Paul, 2009. "Triple-testing the quality of multinationality-performance research: An internalization theory perspective," International Business Review, Elsevier, vol. 18(3), pages 265-275, June.
    18. Cesinger, Beate & Hughes, Mathew & Mensching, Helge & Bouncken, Ricarda & Fredrich, Viktor & Kraus, Sascha, 2016. "A socioemotional wealth perspective on how collaboration intensity, trust, and international market knowledge affect family firms’ multinationality," Journal of World Business, Elsevier, vol. 51(4), pages 586-599.
    19. Buigues, Pierre-André & Lacoste, Denis & Lavigne, Stéphanie, 2015. "When over internationalized companies reduce their international footprint," International Business Review, Elsevier, vol. 24(6), pages 1039-1047.
    20. Han, I & Liang, Hsin-Yu & Chan, Kam C., 2016. "Locational concentration and institutional diversification: Evidence from foreign direct investments in the banking industry," The North American Journal of Economics and Finance, Elsevier, vol. 38(C), pages 185-199.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jomstd:v:40:y:2003:i:3:p:705-723. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-2380 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.