Why investors value multinationality

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dc.contributor.authorMorck, Randall
dc.contributor.authorYeung, Bernard
dc.date.accessioned2023-04-26T06:21:52Z
dc.date.available2023-04-26T06:21:52Z
dc.date.issued1991-04
dc.description.abstractWe examine the value of multinationality to investors as reflected in firms q ratios. The positive impact of R&D and advertising spending on a firms q is enhanced by multinationality, but multinationality itself has no significant impact. This supports the internalization theory which holds that intangible assets are necessary to justify direct foreign investment: and thus a recent strand of trade literature which assumes that multinational firms have intangible assets with public good properties. Our results do not support the hypothesis that investors value multinational firms as a means of diversifying their portfolios internationality.en_US
dc.identifier.urihttp://econspace.ips.lk/handle/789/3704
dc.language.isoenen_US
dc.publisherInstitute of Public Policy studies , Michiganen_US
dc.subjectMultinationalityen_US
dc.titleWhy investors value multinationalityen_US
dc.typeOtheren_US
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