Investors' valuation of global product design and development

被引：12
|
作者：
Ojah, K
Monplaisir, L
机构：
[1] Wayne State Univ, Dept Ind & Mfg Engn, Detroit, MI 48202 USA
[2] United Arab Emirates Univ, Coll Business & Econ, Al Ain, U Arab Emirates
来源：
JOURNAL OF INTERNATIONAL BUSINESS STUDIES | 2003年 / 34卷 / 05期
关键词：
global product design and development; investors' valuation; strategic initiative; multinationalism; IT/IS infrastructure; strategic alliance;
D O I：
10.1057/palgrave.jibs.8400049
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Stock price responses to 170 announcements about global product design and development (GPDD) by NYSE, AMEX, and Nasdaq firms are significantly positive. This indicates that GPDD, which is fast becoming a strategic initiative of choice for multinational firms in the face of globalization and short time-to-market, is value-enhancing. The value enhancement is strong when announcing firms have a high level of information technology/systems infrastructure and a wide geographical spread of operation, and respond aggressively to their peers' strategic initiatives. Further, cross-sectional analyses show that firms' product market structure, their peers' competitive strategy posture, and whether they produce a good or a service, jointly determine the variation of excess returns attributable to global product development.
引用
收藏
页码：457 / 472
页数：16
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