Do Multinational Operations Influence Firm Value? Evidence from the Triad Regions
This paper examines the effect of multinational operations on firm value using a sample of firms from the three triad regions of the world. Using the Transnational Index (reported by the United Nations), a newer measure of multinational operations, this study helps explain some of the conflicting findings reported in the literature and highlights the importance of location of the firm as a factor in influencing the premium or discount in firm value due to multinational operations.
Volume (Year): 4 (2005)
Issue (Month): 1 (April)
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- Lang, Larry H P & Stulz, Rene M, 1994.
"Tobin's q, Corporate Diversification, and Firm Performance,"
Journal of Political Economy,
University of Chicago Press, vol. 102(6), pages 1248-1280, December.
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- Daniel Sullivan, 1994. "Measuring the Degree of Internationalization of a Firm," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 25(2), pages 325-342, June.
- John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 11(1), pages 9-31, March.
- Alan Rugman, 1980. "Internalization as a general theory of foreign direct investment: A re-appraisal of the literature," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 116(2), pages 365-379, June.
- Ike Mathur & Kyran Hanagan, 1983. "Are Multinational Corporations Superior Investment Vehicles for Achieving International Diversification?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 14(3), pages 135-146, September.
- Bae, Sung C. & Noh, Seungwook, 2001. "Multinational corporations versus domestic corporations: a comparative study of R&D investment activities," Journal of Multinational Financial Management, Elsevier, vol. 11(1), pages 89-104, February.
- Christos Pantzalis, 2001. "Does Location Matter? An Empirical Analysis of Geographic Scope and MNC Market Valuation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 32(1), pages 133-155, March. Full references (including those not matched with items on IDEAS)
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