Are Multinational Corporations Safer?
The failure-probabilities of a sample of multinational corporations (MNCs) are derived and compared with those of a control group of domestic corporations (DMCs). The results suggest that the mean insolvency-probability of DMCs is significantly higher than that of the MNCs. It is also observed that MNCs are significantly more capitalized, and the standard deviation of their equity as well as their average systematic risk are also significantly lower. Furthermore, the average insolvency probability of the DMCs is more sensitive to changes in the values of the parameters than those of the MNCs.© 1986 JIBS. Journal of International Business Studies (1986) 17, 83–106
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Volume (Year): 17 (1986)
Issue (Month): 1 (March)
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