This paper demonstrates the value-relevance of foreign earnings for U.S. multinational firms by examining the associations between annual abnormal stock performance and changes in firms? domestic and foreign incomes. For 2570 firm-year observations between 1985 and 1993, both foreign and...

This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20,000 firm-year observations of U.S. corporations from 1987-1993. Ourquot; multivariate tests indicate the average value of a firm with international operations is 2.2% higher than...

This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 31,000 firm-year observations of U.S. corporations from 1984 - 1997. Consistent with the predictions of most theories, we find the value of a firm with international operations is 2.7%...

This paper looks at the issue of value-relevance of foreign earnings for U.S. multinational. It does this by examining the associations between annual abnormal stock performance and changes in firms' domestic and foreign incomes for 2570 firm-year observations between 1985 and 1993. We find that...

In this paper we examine the value-relevance of geographical earnings disclosures for firms listed and domiciled in Australia, Canada and the United Kingdom. We find that foreign earnings in all three countries are valued differently than domestic earnings. The estimate of the association...

This paper demonstrates the value-relevance of foreign earnings for U.S. multinational firms by examining the associations between annual abnormal stock performance and changes in firms' domestic and foreign incomes disclosed through SEC Regulation 210.4-08(h). For 2570 firm-year observations...

This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20,000 firm-year observations of U.S. corporations from 1987-1993. Our" multivariate tests indicate the average value of a firm with international operations is 2.2% higher than...