Global diversification discount and its discontents: A bit of self-selection makes a world of difference

Research summary: The documented discount on globally diversified firms is often cited, but a correlation is not per se evidence that global diversification destroys firm value. Firms choose to globally diversify based on their firm attributes, some of which may be unobservable. Given these exogenou...

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Veröffentlicht in:	Strategic management journal 2016-11, Vol.37 (11), p.2254-2274
Hauptverfasser:	Chang, Sungyong, Kogut, Bruce, Yang, Jae-Suk
Format:	Artikel
Sprache:	eng
Schlagworte:	Business valuation Diversification Economic crisis financial crisis Flexibility global diversification Globalization Multinational corporations operating flexibility replication self-selection Strategic management Studies
Online-Zugang:	Volltext
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