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- W2061456602 abstract "In this paper, the effect of international investment on firm value and the effectiveness of expansion into or retraction from foreign operation is analyzed. Stock-price reactions, over a period of significant change in international operational decisions by the firm, i.e. expansion or divestiture of the foreign operation, were examined using event study methods. The results show that decisions on international investments and divestiture have a positive stock-price reaction. However, the effect on firm value varied by industry, exchange rate changes, and the degree of foreign involvement before the event." @default.
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- W2061456602 date "1997-09-01" @default.
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- W2061456602 title "Stock price reaction to international investment and divestiture and management of currency operating exposure" @default.
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- W2061456602 doi "https://doi.org/10.1016/s0148-6195(97)00031-3" @default.
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