Multinational Business Review

Articles from Vol. 18, No. 4, Winter

A Commentary on Risk Reduction by Geographic Diversification
Abstract:The relationship between multinationality and value is still one of the most fundamental questions in IB research. Gande, Schenzler, and Senbet (2009) claim to have found empirical evidence for the incomplete capital markets theory (ICMT), which...
ICT Development and the Regional vs. Global Strategies of MNEs
Abstract:This paper investigates the impact of information and communication technology (ICT) on the spatial dispersion of FDI. Using a gravity model, we find that geographic distance remains negative for bilateral FDI activities and ICT advances in...
Letter from the Editor
THE M CURVE, PERFORMANCE, AND VALUATION OF THE MNEIn this issue of MBR we have several papers examining how the extent of multinationality of a firm can affect its valuation and performance. The basic rationale for a multinational enterprise (MNE) is...
On the Mode of International Expansion: The Role of Agency Costs
Abstract:We examine the mode of international expansion as an equilibrium governance contract between home country and host country factor owner. The focus is on agency costs, a form of transactions costs. Two phenomena are shown to be related to the...
The M Curve: The Performance of Born-Regional Firms from Korea
Abstract:This paper utilizes a new data base on the international activities of small, new ventures in Korea to examine the impact of internationalization on firm performance. Main findings are two-fold: first, the degree of internationalization by new...
Value Creation and Home Region Internationalization of U.S. MNEs
Abstract:This study analyzes the relationship between multinationality and performance of 1,247 US multinational enterprises (MNEs) over the period of 1995-2004 by utilizing Tobin's q theory. Internationalization is a double-edged sword: foreign intangible...
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