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Discussion: Corporate International Diversification and Market Assigned Measures of Risk and Diversification

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  • Rugman, Alan M.

Abstract

This paper by Hughes, Logue, and Sweeney offers an excellent summary of recent theoretical work on the advantages of multinational firms in providing opportunities for international diversification. In addition, some interesting empirical tests of an international version of the capital asset pricing model (IAPM) are reported. Neither of these topics is original as several writers have explored the theoretical advantages of the multinational firm providing international diversification, including this discussant [1]. The IAPM has been tested by Solnik [2] and others who find that systematic risk is lower in international financial markets than in domestic ones.

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  • Rugman, Alan M., 1975. "Discussion: Corporate International Diversification and Market Assigned Measures of Risk and Diversification," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 10(4), pages 651-652, November.
    • Handle: RePEc:cup:jfinqa:v:10:y:1975:i:04:p:651-652_01
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    Cited by:

    1. Ignaciuk, Ada & Ilicic, Joanna & Asprooth, Lauren & Sitko, Nicholas J. & Bernard, Angela & Maggio, Giuseppe & Tubiello, Francesco N. & Mueller, Marc, 2021. "Progress towards sustainable agriculture – Drivers of change," FAO Agricultural Development Economics Technical Study 319833, Food and Agriculture Organization of the United Nations, Agricultural Development Economics Division (ESA).
    2. Driffield, Nigel & Jones, Chris & Crotty, Jo, 2013. "International business research and risky investments, an analysis of FDI in conflict zones," International Business Review, Elsevier, vol. 22(1), pages 140-155.

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