Internationalization and firm risk: An upstream-downstream hypothesis

被引：149

作者：

Kwok, CCY ^{[1
]}

Reeb, DM

机构：

[1] Univ S Carolina, Columbia, SC 29208 USA

[2] American Univ, Kogod Sch Business, Washington, DC 20016 USA

来源：

JOURNAL OF INTERNATIONAL BUSINESS STUDIES | 2000年 / 31卷 / 04期

关键词：

D O I：

10.1057/palgrave.jibs.8490925

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Corporate international diversification theory posits that multinational corporations (MNCs) should have lower risk and higher financial leverage than purely domestic corporations (DCs). We suggest an alternative upstream-downstream hypothesis according to which the overall effect of internationalization on the risk and leverage of MNCs is expected to vary with home and target market conditions. The empirical results are consistent with the suggested hypothesis.

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页码：611 / 629

页数：19

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