THE STRUCTURE OF THE theory of international finance largely mirrors that of domestic
financial theory. Starting from a micro-theory of individual portfolio choice one obtains, via …

Publisher Summary This chapter focuses on two puzzles related to international financial
markets. The first puzzle concerns explanations for deviations from uncovered interest parity …

This article examines the exposure of US multinationals to foreign currency risk. Evidence is
presented that the relationship between stock returns and exchange rates differs …

The multinational corporation is a network of activities located in different countries. The
value of this network derives from the opportunity to benefit from uncertainty through the …

We examine the value of multinationality to investors as reflected in firms'q ratios. The
positive impact of research and development and advertising spending on a firm's q is …

Investors hold a substantially larger proportion of their wealth portfolios in domestic assets
than standard portfolio theory would suggest, a phenomenon called “equity home bias.” In …

The eleventh edition of Multinational Financial Management is a comprehensive survey of
the essential areas of the international financial market environment, including foreign …

This study presents direct evidence on the effect of international acquisitions on stock prices
of US bidding firms. Shareholders of MNCs not operating in the target firm's country …

The analysis in this paper is composed of two segments. First, the financial performance of a
sample of multinational corporations (MNCs) is compared with that derived for a control …

Abstract Abstract and Key Results This paper reviews the theoretical rationale that has been
advanced so far for a positive relationship between multinationality (ie international …