کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5085310 | 1477948 | 2008 | 18 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Systematic risk and international diversification: An empirical perspective
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper reports findings from a study that systematically evaluated the nature of the relationship between internationalization and systematic risk. In addition to previous conceptualizations, this study also examined whether the number of foreign countries and segments a firm operates in constitute a part of the information used by market participants to assess a firm's risk exposure. We find that international diversification is significantly and positively associated with systematic risk and that diversification augments systematic risk. Our findings have implications on the stability of foreign expansion and business decisions by managers on the appropriate level of overseas commitment.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Financial Analysis - Volume 17, Issue 4, September 2008, Pages 681-698
Journal: International Review of Financial Analysis - Volume 17, Issue 4, September 2008, Pages 681-698
نویسندگان
Kingsley O. Olibe, Franklin A. Michello, Jerry Thorne,