International Corporate Diversification, Market Valuation, and Size-Adjusted Evidence

Volume: 39, Issue: 3, Pages: 727 - 743
Published: Jul 1, 1984
Abstract
Errunza and Senbet [ES, 7] analyze the effects of international operations on the market value of the null both at theoretical and empirical levels. The theoretical model, which is largely heuristic, exploits the costly supply adjustment of multinational firms (MNCs) in providing international portfolio diversification services to investors who face differential cost barriers to direct holdings of assets across national boundaries. MNCs compete...
Paper Details
Title
International Corporate Diversification, Market Valuation, and Size-Adjusted Evidence
Published Date
Jul 1, 1984
Volume
39
Issue
3
Pages
727 - 743
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