 US firms – How global are they? A longitudinal studyMartha O'Hagan-Luff and Jenny Berrill International Review of Financial Analysis, 2016, vol. 44, issue C, 205-216 Abstract: Many studies examine firm-level internationalisation using measures such as percentage foreign sales, number of foreign subsidiaries and the number of countries in which the firm operates, but few examine the changes in these measures over time. We conduct a longitudinal study of the internationalisation of Russell 1000 US firms between 1996 and 2010, with further categorisations by age, industry and size. We find little change in the number of purely domestic firms, but substantial overall increases in the extent and scope of internationalisation of MNCs, with periods of both de- and re-internationalisation. Firms appear to expand into new regions and increase their foreign sales in those regions in subsequent years. More than half of the MNCs in our sample experienced a decrease in foreign sales after the 2007/08 credit crisis, with relatively few decreases in the regions in which they operate. By 2010 we find that the majority of the MNCs in our sample are pursuing a semi-global strategy. Keywords: Longitudinal internationalisation; Geographic scope; Firm multinationality (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:44:y:2016:i:c:p:205-216 DOI: 10.1016/j.irfa.2016.01.021 Access Statistics for this article International Review of Financial Analysis is currently edited by B.M. Lucey More articles in International Review of Financial Analysis from Elsevier |
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