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Multinationality, profitability and firm value

Multinationality, profitability and firm value Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development. Tests these models on 1987‐1992 US data and compares them with predictions based on current return on equity. Presents the results, which suggest that the degree of internationalization helps to explain cross‐sectional differences in market value, but does not provide much extra information on future profitability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Finance Emerald Publishing

Multinationality, profitability and firm value

Managerial Finance , Volume 25 (12): 11 – Dec 1, 1999

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References (12)

Publisher
Emerald Publishing
Copyright
Copyright © 1999 MCB UP Ltd. All rights reserved.
ISSN
0307-4358
DOI
10.1108/03074359910766325
Publisher site
See Article on Publisher Site

Abstract

Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development. Tests these models on 1987‐1992 US data and compares them with predictions based on current return on equity. Presents the results, which suggest that the degree of internationalization helps to explain cross‐sectional differences in market value, but does not provide much extra information on future profitability.

Journal

Managerial FinanceEmerald Publishing

Published: Dec 1, 1999

Keywords: Accounting research; Methods of valuation; Modelling; Predictive validity; International trade; USA

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