In this research, we examine the moderating impacts of external uncertainty and portfolio ownership on the values and costs of multinationality by comparing international diversification and real options effects. We find from Korean FDI data that uncertainty strengthens the negative value of...

We examine how the exits of multinational companies’ foreign subsidiaries from host countries are foreshadowed by the irreversibility intrinsic to firms’ entry modes and the environmental uncertainty in host countries. For empirical testing, we run a Cox proportional hazard rate model on...

We examine how multinational corporations’ (MNCs) foreign subsidiaries enhance their performance through flexible intra-firm adjustments and reduce their exit ratio under exchange rate changes in their host countries. We analyze Korean MNCs where foreign subsidiaries engage in intra-firm sales...

Purpose – The purpose of this paper is to examine whether Korean multinational corporations (MNCs) in the electronics and steel industries do shift their production across their foreign subsidiaries, located in different countries, as exchange rates fluctuate in foreign countries....