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作者：Hashai, Niron
作者单位：Hebrew University of Jerusalem
摘要：Born global firms are not actually born global, but rather internationalize rapidly from their inception by expanding their geographic scope and extent of foreign operations. However, it remains unclear whether such firms: (1) simultaneously expand along both dimensions; (2) focus on expanding along a single dimension at a given time, and switch interchangeably between expanding geographic scope and extent of foreign operations in subsequent periods; or (3) stick solely to a specific internati...
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作者：Chang, Sea-Jin; Rhee, Jay Hyuk
作者单位：National University of Singapore; Korea University
摘要：Today, more firms are expanding rapidly into foreign markets to reach global scale quickly, and to capture or nullify first-mover advantages. These trends run counter to the conventional theory of gradual internationalization, which suggests that firms maximize the benefits of learning from prior experience, thereby minimizing the hazard of failure. We argue that this conventional wisdom does not consider the risk of being a perennial late mover in the face of increased global competition. Thi...
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作者：Li, Shujing; Qiu, Jiaping; Wan, Chi
作者单位：McMaster University; Carleton University
摘要：This paper investigates the effect of corporate globalization on bank loan contracts, as reflected in both price and non-price loan terms. We show that globally diversified firms receive more favorable valuation from creditors than domestic firms do. Specifically, we find strong evidence that global firms are charged lower loan rates, and are spared the more restrictive non-price contractual terms such as short maturity and collateral requirements. Our results are robust to various extensions,...
