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Systematic risk and international diversification: An empirical perspective

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  • Olibe, Kingsley O.
  • Michello, Franklin A.
  • Thorne, Jerry

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  • Olibe, Kingsley O. & Michello, Franklin A. & Thorne, Jerry, 2008. "Systematic risk and international diversification: An empirical perspective," International Review of Financial Analysis, Elsevier, vol. 17(4), pages 681-698, September.
  • Handle: RePEc:eee:finana:v:17:y:2008:i:4:p:681-698
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    References listed on IDEAS

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    1. Hamada, Robert S, 1972. "The Effect of the Firm's Capital Structure on the Systematic Risk of Common Stocks," Journal of Finance, American Finance Association, vol. 27(2), pages 435-452, May.
    2. Hughes, John S. & Logue, Dennis E. & Sweeney, Richard James, 1975. "Corporate International Diversification and Market Assigned Measures of Risk and Diversification," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 10(04), pages 627-637, November.
    3. 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.
    4. Solnik, Bruno H., 1974. "An equilibrium model of the international capital market," Journal of Economic Theory, Elsevier, vol. 8(4), pages 500-524, August.
    5. repec:bla:joares:v:38:y:2000:i:1:p:127-148 is not listed on IDEAS
    6. Morck, Randall & Yeung, Bernard, 1991. "Why Investors Value Multinationality," The Journal of Business, University of Chicago Press, vol. 64(2), pages 165-187, April.
    7. Black, Fischer, 1990. " Equilibrium Exchange Rate Hedging," Journal of Finance, American Finance Association, vol. 45(3), pages 899-907, July.
    8. Allen Michel & Israel Shaked, 1986. "Multinational Corporations vs Domestic Corporations: Financial Performance and Characteristics," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 17(3), pages 89-100, September.
    9. Clarkson, Pete & Guedes, Jose & Thompson, Rex, 1996. "On the Diversification, Observability, and Measurement of Estimation Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 31(01), pages 69-84, March.
    10. Robert M Grant, 1987. "Multinationality and Performance among British Manufacturing Companies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 18(3), pages 79-89, September.
    11. Azmi D Mikhail & Hany A Shawky, 1979. "Investment Performance of U.S Based Multinational Corporations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 10(1), pages 53-66, March.
    12. repec:fth:michin:282 is not listed on IDEAS
    13. Agmon, Tamir & Lessard, Donald R, 1977. "Investor Recognition of Corporate International Diversification," Journal of Finance, American Finance Association, vol. 32(4), pages 1049-1055, September.
    14. Constatinos C Markides & Christopher D Ittner, 1994. "Shareholder Benefits from Corporate International Diversification: Evidence from U.S. International Acquisitions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 25(2), pages 343-366, June.
    15. Shapiro, Alan C., 1978. "Financial Structure and Cost of Capital in the Multinational Corporation," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 13(02), pages 211-226, June.
    16. Lipe, M. G., 1998. "Individual investors' risk judgments and investment decisions: The impact of accounting and market data," Accounting, Organizations and Society, Elsevier, vol. 23(7), pages 625-640, October.
    17. Israel Shaked, 1986. "Are Multinational Corporations Safer?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 17(1), pages 83-106, March.
    18. David M Reeb & Chuck C Y Kwok & H Young Baek, 1998. "Systematic Risk of the Multinational Corporation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(2), pages 263-279, June.
    19. James G. March & Zur Shapira, 1987. "Managerial Perspectives on Risk and Risk Taking," Management Science, INFORMS, vol. 33(11), pages 1404-1418, November.
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    Cited by:

    1. Meinshausen, Steffen & Schiereck, Dirk, 2011. "Dressed to merge — small fits fine: M&A success in the fashion and accessories industry," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 283-291.
    2. Mirela NICHITA, 2015. "An Overview On State Of Knowledge Of Risk And Risk Management In Economics Fields," SEA - Practical Application of Science, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 7, pages 423-430, April.
    3. Krapl, Alain A., 2015. "Corporate international diversification and risk," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 1-13.
    4. Dana Kiselakova & Jarmila Horvathova & Beata Sofrankova & Miroslava Soltes,, 2015. "Analysis Of Risks And Their Impact On Enterprise Performance By Creating Enterprise Risk Model," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 11(2), pages 50-61, June.
    5. Matus Medo & Chi Ho Yeung & Yi-Cheng Zhang, 2008. "How to quantify the influence of correlations on investment diversification," Papers 0805.3397, arXiv.org, revised Feb 2009.
    6. Kourtis, Apostolos & Markellos, Raphael N. & Psychoyios, Dimitris, 2012. "Wine price risk management: International diversification and derivative instruments," International Review of Financial Analysis, Elsevier, vol. 22(C), pages 30-37.
    7. Charee Kwak, 2017. "The Effect of Corporate International Diversification on Firm Risk," Discussion Papers 2017-17, Kobe University, Graduate School of Business Administration.
    8. Aabo, Tom & Pantzalis, Christos & Sørensen, Helle & Toustrup, Malene Teilmann, 2016. "Corporate risk and external sourcing: A study of Scandinavian multinational firms," International Business Review, Elsevier, vol. 25(6), pages 1297-1308.
    9. el Alaoui, AbdelKader Ouatik & Bacha, Obiyathulla Ismath & Masih, Mansur & Asutay, Mehmet, 2016. "Shari’ah screening, market risk and contagion: A multi-country analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 132(S), pages 93-112.
    10. repec:eee:jiaata:v:29:y:2017:i:c:p:81-102 is not listed on IDEAS
    11. Medo, Matús & Yeung, Chi Ho & Zhang, Yi-Cheng, 2009. "How to quantify the influence of correlations on investment diversification," International Review of Financial Analysis, Elsevier, vol. 18(1-2), pages 34-39, March.

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