Internationalization and firm performance

被引：3

作者：

Likitwongkajon, Napaporn ^{[1
]}

Vithessonthi, Chaiporn ^{[2
]}

机构：

[1] Khon Kaen Univ, Fac Business Adm & Accountancy, 123 Mithraphap Rd, Khon Kaen 40002, Thailand

[2] Sunway Univ, Business Sch, 5 Jalan Univ, Sunway City 47500, Selangor, Malaysia

来源：

GLOBAL FINANCE JOURNAL | 2023年 / 56卷

关键词：

Europe; Firm performance; Industry competition; Industry innovation intensity; Internationalization; Strategy; RESEARCH-AND-DEVELOPMENT; PRODUCT-MARKET COMPETITION; MONOPOLISTIC COMPETITION; CORPORATE GOVERNANCE; DYNAMIC OLIGOPOLY; AGENCY COSTS; DIVERSIFICATION; INNOVATION; MULTINATIONALITY; LIBERALIZATION;

D O I：

10.1016/j.gfj.2022.100753

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We argue that industry competition and industry innovation intensity exert an influence on the relation between a firm's internationalization and performance. Using a large panel sample consisting of publicly listed nonfinancial firms in 27 European countries from 1990 to 2016, we document that internationalization is negatively associated with operating performance and firm value. The negative effects of internationalization on operating performance and firm value vary depending on the degree of industry competition or industry innovation intensity. These results imply that industry conditions moderate the effects of internationalization on operating performance and firm value.

引用

页数：29

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