.png){kind=icon}
Return
INTERNALIZATION - AN EVENT STUDY TEST
.png){kind=icon}
OA
AI
DOI：10.1016/0022-1996(92)90049-P.png)
.png){kind=icon}
.png){kind=icon}
Share.png){kind=icon}
Save
Abstract
En 中文
The internalization theory of multinational firms proposes that direct international investment occurs when a firm has information-related intangible assets with public good properties. We find that firms with characteristics suggesting the presence of information-based assets experience a significantly positive stock price reaction upon announcing a foreign acquisition. On the other hand, firms apparently lacking such assets experience at best zero abnormal returns upon announcing overseas acquisitions.
Keywords:
CORPORATE INTERNATIONAL DIVERSIFICATION
FOREIGN-INVESTMENT
EMPIRICAL-EVIDENCE
MARKET VALUATION
FIRM
PERFORMANCE
OWNERSHIP
ACQUISITIONS
CONSEQUENCES
DETERMINANTS
AI Summary
Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.
Journal
IF:
4
Papers:
3.3K
Citations:
1.1W
Organization
No organization information available
Cited Papers
ShareSave
ShareSaveTHE EFFECT OF CORPORATE MULTINATIONALISM ON SHAREHOLDERS WEALTH - EVIDENCE FROM INTERNATIONAL ACQUISITIONS.png)
JOURNAL OF FINANCE
JOURNAL OF FINANCEIF9.5
PREAI
ShareSaveShareSave
View more