This study examines the effect of institutions on the strategy of international diversification and on the relationships between political risk and the scope of internationalisation. Drawing on the Uppsala model but also on diversification and portfolio theory, I examine the behaviour of Spanish...

The present study analyzes the relationship between the political risk assumed by Spanish multinational enterprises in their internationalization strategies and their performance over a five-year period, from 2000 to 2005. Significant evidence is obtained of a positive and simultaneous...