The valuation of firms is one of the topics that valuation theorists and practitioners have addressed since the early stages of economic sciences. Firm valuations are regularly conducted using discounted cash flow (DCF) models in which expected future cash flows are discounted at...

The thesis by publication contains three papers and addresses shortcomings in existing literature on internationalization processes of multinational enterprises and international new ventures (INVs). Special focus is given to their subsequent international development (i.e. period after the...