EconPapers    
Economics at your fingertips  
 

Investors' valuation of global product design and development

Kalu Ojah () and L Monplaisir
Additional contact information
L Monplaisir: Industrial & Manufacturing Engineering Department, Wayne State University, Detroit, USA

Journal of International Business Studies, 2003, vol. 34, issue 5, 457-472

Abstract: Stock price responses to 170 announcements about global product design and development (GPDD) by NYSE, AMEX, and Nasdaq firms are significantly positive. This indicates that GPDD, which is fast becoming a strategic initiative of choice for multinational firms in the face of globalization and short time-to-market, is value-enhancing. The value enhancement is strong when announcing firms have a high level of information technology/systems infrastructure and a wide geographical spread of operation, and respond aggressively to their peers' strategic initiatives. Further, cross-sectional analyses show that firms' product market structure, their peers' competitive strategy posture, and whether they produce a good or a service, jointly determine the variation of excess returns attributable to global product development. Journal of International Business Studies (2003) 34, 457–472. doi:10.1057/palgrave.jibs.8400049

Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed

Downloads: (external link)
http://www.palgrave-journals.com/jibs/journal/v34/n5/pdf/8400049a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/jibs/journal/v34/n5/full/8400049a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:jintbs:v:34:y:2003:i:5:p:457-472

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/41267/PS2

Access Statistics for this article

Journal of International Business Studies is currently edited by John Cantwell

More articles in Journal of International Business Studies from Palgrave Macmillan, Academy of International Business
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-03-28
Handle: RePEc:pal:jintbs:v:34:y:2003:i:5:p:457-472