Financial Performances and Characteristics : Comparisons of U. S. Multinational and Domestic Firms  

Oleh:

Kusuma, Indra Wijaya

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: International Journal of Business vol. 1 no. 1 (May 1999), page 11-28.
Topik: financial performance; multinational; performace; characteristics; U. S.

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: II51.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study examines financial performances and characteristics of U. S. multinational and domestic firms. Michel and Shaked (1986) provide empirical results using the 1973 - 1982 period. Their study shows that domestic firms have significantly superior risk - adjusted, market performances compared to multinational firms performances. However, whether these result still apply to the current conditions is an interesting question because of the changes in economic condition and stock market laws and regulations. Contrary to the expectation, the empirical results show that risk - adjusted market based performances of multinational firms outperform those of domestic firms. In addition, this study also shows that for multinational firms, quick ratios, return on assets, inventory turnovers, and capitalization ratios are key variables to monitor. For domestic firms, return on assets, market to book ratios, and dividend payout ratios are key variables to monitor.

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