Multinationality and downside risk: The roles of option portfolio and organization
Abstract
Multinational operations confer firms a portfolio of switching options that offer potential operating flexibility in the context of input cost variability, helping firms reduce downside risk. We suggest that two conditions may shape the relationship between multinationality and downside risk. When subadditivity is present in a firm's option portfolio, such as when the firm operates affiliates in host countries with similar labor cost...
Paper Details
Title
Multinationality and downside risk: The roles of option portfolio and organization
Published Date
Apr 8, 2013
Journal
Volume
35
Issue
1
Pages
88 - 106
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