The Impact of International Diversification on the Corporate Valuation
Jakubenko Alena Anatol'evna
Postgraduate, Master of Management
Russia, Moscow State University. MV Lomonosov
The article deals with the impact of international diversification strategy on the corporate valuation. It describes theory basis that can explain the sources for value added in companies that use diversification strategy. The article gives also the comprehensive view on the methodology of evaluation of international diversification influence on the corporate value and comparative analysis of inconsistent empirical results of different researches concerning the nature of key relationships’ between international diversification and firm value.
Corporate valuation, international diversification, market imperfection theory, internationalization theory, managerial objectives theory, Tobin's q ratio, Berger and Ofek multipliers, cumulative abnormal return.
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