Author: Majed Hayssem Minkara
Publisher:
ISBN:
Category :
Languages : en
Pages : 82
Get Book Here
Book Description
This project investigates the effect of international diversification on the ope rating performance of firms listed in the United Nations Council on Trade and De velopment's World Investment Report for the years 1998 to 2003. Empirical result s show that an increase in international diversification is associated with a de cline in operating performance, which is consistent with the hypotheses construc ted concerning the increase in agency costs, managerial complexity that are asso ciated with an increase in internationalization. Moreover, the operating perform ance of firms originating in developing economies is negatively affected by inte rnational diversification, whereas it is no in firms originating in developed ec onomies. This is consistent with the accrual of managerial competencies and orga nizational structures, as well as improved governance, of firms originating in d eveloped economies. Further empirical investigations show evidence that export s ales are positively associated with operating performance whereas the acquisitio n of foreign assets is negatively associated with operating performance. Finally , further investigations show that product diversification is beneficial to inte rnationally diversified firms originating in developed economies, and dampens th e negative effect of international diversification on the operating performance of firms originating in developing economies.
Author: Kingsley O. Olibe
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
Get Book Here
Book Description
We examine the relation between international diversification and three measures of performance - share price, operating accounting income, and operating cash flows. As predicted, we find that foreign assets of U.S. firms are positively associated with price, implying that investors recognize the overseas content of firm's activities and use this information in determining value. The result suggests that when firms internationalize, firm values are higher. We also find that international diversification is an incremental determinant of operating income and operating cash flows, indicating that international operations are successful path to higher operating performance. More importantly, we find strong evidence that foreign asset coefficient increases with the introduction of SFAS 131. Such findings lend credence to the position of the AICPA (1994) and AIRM (1993) that geographic segment data increases investors' awareness and valuation of the information disclosed in accordance with SFAS No. 131.
Author: Kingsley O. Olibe
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
Get Book Here
Book Description
We investigate the association between corporate international diversification and operating and market performance and firm spread (liquidity). We find, as expected, that foreign fixed assets of US firms are significantly and positively related to firm performance as measured by operating income, cash from operations, and liquidity. This evidence suggests that corporate international diversification reflects a unique dimension that is incremental to operating and market performance. Foreign fixed assets also are significantly and positively related to prices and returns, suggesting that foreign investments are wealth changing corporate decision. This finding not only complements our operating performance results and price regressions findings, but also suggests that a portion of US firms' investment abroad is timely. Our inferences are robust to change specifications and controlling for previously identified determinants of spread, operating and market performance. Our price and return results suggest that investors incorporate geographic segmental assets data in their valuation model. Extending the analysis on partition sample -- high versus low leverage firms, we document that both foreign assets of high and low leverage firms are significantly positively associated with share price and the coefficient on high leverage firms is significantly larger than the coefficient on low leverage firms.
Author: Frithjof Pils
Publisher: Springer Science & Business Media
ISBN: 3834981818
Category : Business & Economics
Languages : en
Pages : 229
Get Book Here
Book Description
Frithjof Pils uses multiple statistical techniques to examine the true nature of the relationships between diversification strategies and accounting-based, market-based, and growth-based performance. The author shows implications for the interpretation of past research, the design of future research including the use of meta-analysis methodologies, as well as management practice.
Author: Michael A. Hitt
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
Get Book Here
Book Description
Author: Atanu Adhikari
Publisher: Springer Nature
ISBN: 9811587876
Category : Business & Economics
Languages : en
Pages : 195
Get Book Here
Book Description
This book would enable students, academics and practitioners to develop a thorough understanding on how to address service marketing issues and problems in a variety of settings in emerging economies. This book would also give them the background necessary to think through different elements of service marketing in emerging markets by comparing and contrasting with developed economies. This book will describe the component of service marketing, including service mix, service development, consumer behavior, customer assessment, service communication, role of electronic channel and channel management, service chain, pricing and similar topics. Chapters of the book will focus on creating, communicating and delivering customer value to emerging market consumers through several service marketing strategies, processes and programs in the context of markets dynamics, consumer diversity, and competitors. By way of illustrating various actual business situations, this book will help students, academics and practitioners to build necessary skills to take service marketing decisions in emerging economies. This book would be relevant for students of postgraduate programs of full time MBA, post graduate diploma in management, and executive post graduate programs and doctoral programs to develop a critical understanding of the business scenarios and service marketing strategies in emerging economies.
Author: 鄭舒庭
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Bo Bernhard Nielsen
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
Get Book Here
Book Description
Author: Ya-Hsin Chang
Publisher: LAP Lambert Academic Publishing
ISBN: 9783838314310
Category : Aesthetic distance
Languages : en
Pages : 76
Get Book Here
Book Description
There is plenty of evidence to suggest that companies in some parts of the world are increasingly diversifying the geographic scope of their business activities in the pursuit of competitive advantage. Although geographic expansion comes with a set of benefits, different phases of cost may diminish the performance benefits of internationalization. In this study, we extend geographic diversification research to a new context (Taiwanese-based) and tried to explore internationalization-performance relationship at difference expansion phases. We tested our new theoretical model with a longitudinal data set comprising 214 Taiwanese electronic industries during 2000 to 2007 periods. This sample captured Taiwanese electronic manufacturing substantially involved in internationalization activities and their relationship with performance, which was necessary to discover their different changes in our study. Further, the moderating effect of host countries' political risk and psychic distance are key variables that should not be underestimated.
Author: D. Karthik
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Get Book Here
Book Description
