Gespeichert in:
| Titel: | Internationalization and the evolution of corporate valuation |
|---|---|
| Von: |
Ross Levine, Sergio L. Schmukler
|
| Person: |
Levine, Ross
1960- Verfasser aut Schmukler, Sergio L. |
| Hauptverfassende: | , |
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Cambridge, MA
National Bureau of Economic Research
2005
|
| Schriftenreihe: | NBER working paper series
working paper 11023 |
| Schlagworte: | |
| Online-Zugang: | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3933 |
| Beschreibung: | Includes bibliographical references. - Title from PDF file as viewed on 1/25/2005 Erscheinungsjahr in Vorlageform:c2005 |
| Beschreibung: | 1 Online-Ressource (47 Seiten) |
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| 245 | 1 | 0 | |a Internationalization and the evolution of corporate valuation |c Ross Levine, Sergio L. Schmukler |
| 264 | 1 | |a Cambridge, MA |b National Bureau of Economic Research |c 2005 | |
| 300 | |a 1 Online-Ressource (47 Seiten) | ||
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| 490 | 0 | |a NBER working paper series |v working paper 11023 | |
| 500 | |a Includes bibliographical references. - Title from PDF file as viewed on 1/25/2005 | ||
| 500 | |a Erscheinungsjahr in Vorlageform:c2005 | ||
| 520 | 1 | |a "By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that Tobin's "q" does not rise after internationalization, even relative to firms that do not internationalize. Instead, "q" rises significantly one year before internationalization and during the internationalization year. But, then "q" falls sharply in the year after internationalization, relinquishing the increases of the previous two years. To account for these dynamics, we show that market capitalization rises one year before internationalization and remains high, while corporate assets increase during internationalization. The evidence supports models stressing that internationalization facilitates corporate expansion, but challenges models stressing that internationalization produces an enduring effect on "q" by bonding firms to a better corporate governance system"--National Bureau of Economic Research web site | |
| 534 | |c 2005 | ||
| 650 | 4 | |a Globalisierung | |
| 650 | 4 | |a Mathematisches Modell | |
| 650 | 4 | |a Multinationales Unternehmen | |
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| 653 | |a Globalization |a Economic aspects |a Mathematical models | ||
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| 700 | 1 | |a Schmukler, Sergio L. |e Verfasser |0 (DE-588)124322506 |4 aut | |
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| id | DE-604.BV040618538 |
| illustrated | Not Illustrated |
| indexdate | 2025-02-10T09:00:56Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (47 Seiten) |
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| publishDate | 2005 |
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| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | NBER working paper series |
| spellingShingle | Levine, Ross 1960- Schmukler, Sergio L. Internationalization and the evolution of corporate valuation Globalisierung Mathematisches Modell Multinationales Unternehmen |
| title | Internationalization and the evolution of corporate valuation |
| title_auth | Internationalization and the evolution of corporate valuation |
| title_exact_search | Internationalization and the evolution of corporate valuation |
| title_full | Internationalization and the evolution of corporate valuation Ross Levine, Sergio L. Schmukler |
| title_fullStr | Internationalization and the evolution of corporate valuation Ross Levine, Sergio L. Schmukler |
| title_full_unstemmed | Internationalization and the evolution of corporate valuation Ross Levine, Sergio L. Schmukler |
| title_short | Internationalization and the evolution of corporate valuation |
| title_sort | internationalization and the evolution of corporate valuation |
| topic | Globalisierung Mathematisches Modell Multinationales Unternehmen |
| topic_facet | Globalisierung Mathematisches Modell Multinationales Unternehmen |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3933 |
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