Department of Economics and Business Economics

Multinationality and Opaqueness

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

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Multinationality and Opaqueness. / Aabo, Tom; Pantzalis, Christos; Park, Jung Chul.

In: Journal of Corporate Finance, Vol. 30, 2015, p. 65-84.

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Harvard

Aabo, T, Pantzalis, C & Park, JC 2015, 'Multinationality and Opaqueness', Journal of Corporate Finance, vol. 30, pp. 65-84. https://doi.org/10.1016/j.jcorpfin.2014.12.002

APA

Aabo, T., Pantzalis, C., & Park, J. C. (2015). Multinationality and Opaqueness. Journal of Corporate Finance, 30, 65-84. https://doi.org/10.1016/j.jcorpfin.2014.12.002

CBE

Aabo T, Pantzalis C, Park JC. 2015. Multinationality and Opaqueness. Journal of Corporate Finance. 30:65-84. https://doi.org/10.1016/j.jcorpfin.2014.12.002

MLA

Aabo, Tom, Christos Pantzalis and Jung Chul Park. "Multinationality and Opaqueness". Journal of Corporate Finance. 2015, 30. 65-84. https://doi.org/10.1016/j.jcorpfin.2014.12.002

Vancouver

Aabo T, Pantzalis C, Park JC. Multinationality and Opaqueness. Journal of Corporate Finance. 2015;30:65-84. https://doi.org/10.1016/j.jcorpfin.2014.12.002

Author

Aabo, Tom ; Pantzalis, Christos ; Park, Jung Chul. / Multinationality and Opaqueness. In: Journal of Corporate Finance. 2015 ; Vol. 30. pp. 65-84.

Bibtex

@article{15bec92d04b04ea79a009fbac0abaab3,
title = "Multinationality and Opaqueness",
abstract = "We investigate whether and how multinationality affects the opaqueness of the firm. We use multiple alternative measurements of multinationality and opaqueness. Spanning nearly three decades for a large sample of US non-financial firms, we find a statistically and economically significant, positive relationship between multinationality and opaqueness. We find that this positive relationship hinges on whether or not the degree of foreign involvement is compatible with the structure of the firm's foreign operations network. Our results imply that multinationality's impact on opaqueness is alleviated when there is harmony between the size of foreign involvement and the extent of the MNC network's geographic dispersion. Previous literature has implicitly assumed a simple, positive relationship. This is the first study to explicitly address the question in a comprehensive manner.",
keywords = "Multiple regression analysis; Internationalization theory; Stock market valuation; Stock prices; Multinationality; Opaqueness, Multiple regression analysis, Internationalization theory, Stock market valuation, Stock prices, Multinationality, Opaqueness",
author = "Tom Aabo and Christos Pantzalis and Park, {Jung Chul}",
note = "Campus adgang til artiklen / Campus access to the article",
year = "2015",
doi = "10.1016/j.jcorpfin.2014.12.002",
language = "English",
volume = "30",
pages = "65--84",
journal = "Journal of Corporate Finance",
issn = "0929-1199",
publisher = "Elsevier BV",

}

RIS

TY - JOUR

T1 - Multinationality and Opaqueness

AU - Aabo, Tom

AU - Pantzalis, Christos

AU - Park, Jung Chul

N1 - Campus adgang til artiklen / Campus access to the article

PY - 2015

Y1 - 2015

N2 - We investigate whether and how multinationality affects the opaqueness of the firm. We use multiple alternative measurements of multinationality and opaqueness. Spanning nearly three decades for a large sample of US non-financial firms, we find a statistically and economically significant, positive relationship between multinationality and opaqueness. We find that this positive relationship hinges on whether or not the degree of foreign involvement is compatible with the structure of the firm's foreign operations network. Our results imply that multinationality's impact on opaqueness is alleviated when there is harmony between the size of foreign involvement and the extent of the MNC network's geographic dispersion. Previous literature has implicitly assumed a simple, positive relationship. This is the first study to explicitly address the question in a comprehensive manner.

AB - We investigate whether and how multinationality affects the opaqueness of the firm. We use multiple alternative measurements of multinationality and opaqueness. Spanning nearly three decades for a large sample of US non-financial firms, we find a statistically and economically significant, positive relationship between multinationality and opaqueness. We find that this positive relationship hinges on whether or not the degree of foreign involvement is compatible with the structure of the firm's foreign operations network. Our results imply that multinationality's impact on opaqueness is alleviated when there is harmony between the size of foreign involvement and the extent of the MNC network's geographic dispersion. Previous literature has implicitly assumed a simple, positive relationship. This is the first study to explicitly address the question in a comprehensive manner.

KW - Multiple regression analysis; Internationalization theory; Stock market valuation; Stock prices; Multinationality; Opaqueness

KW - Multiple regression analysis

KW - Internationalization theory

KW - Stock market valuation

KW - Stock prices

KW - Multinationality

KW - Opaqueness

U2 - 10.1016/j.jcorpfin.2014.12.002

DO - 10.1016/j.jcorpfin.2014.12.002

M3 - Journal article

VL - 30

SP - 65

EP - 84

JO - Journal of Corporate Finance

JF - Journal of Corporate Finance

SN - 0929-1199

ER -