2012
DOI: 10.1002/cjas.1226
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Impacts of International Greenfield Investment on Firm Valuation

Abstract: Our study examines the announcement effects of 343 international greenfield investments by 289 U.S. firms for their impact on shareholder wealth. This paper develops five hypotheses based on the positive-multinational-network hypothesis. The evidence indicates that market reactions to announcements by firms entering developing countries are more favorable than those entering developed countries. In addition, the results show that the wealth effect for firms entering a host country for the first time is greater… Show more

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Cited by 3 publications
(2 citation statements)
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“…There are, however, several investment or entry modes like mergers and acquisitions, joint-ventures, franchising, expansions, brownfield, and greenfield FDI (Anderson & Gatignon, 1986;Chang & Chang, 2012;Cheng, 2006). There are, however, several investment or entry modes like mergers and acquisitions, joint-ventures, franchising, expansions, brownfield, and greenfield FDI (Anderson & Gatignon, 1986;Chang & Chang, 2012;Cheng, 2006).…”
Section: Greenfield Fdimentioning
confidence: 99%
See 1 more Smart Citation
“…There are, however, several investment or entry modes like mergers and acquisitions, joint-ventures, franchising, expansions, brownfield, and greenfield FDI (Anderson & Gatignon, 1986;Chang & Chang, 2012;Cheng, 2006). There are, however, several investment or entry modes like mergers and acquisitions, joint-ventures, franchising, expansions, brownfield, and greenfield FDI (Anderson & Gatignon, 1986;Chang & Chang, 2012;Cheng, 2006).…”
Section: Greenfield Fdimentioning
confidence: 99%
“…FDI refers to an investment made to acquire a lasting interest in enterprises operating outside the investor's country. There are, however, several investment or entry modes like mergers and acquisitions, joint-ventures, franchising, expansions, brownfield, and greenfield FDI (Anderson & Gatignon, 1986;Chang & Chang, 2012;Cheng, 2006). Greenfield FDI refers to the investment undertaken when the parent firm has no footprint in the host country.…”
Section: Greenfield Fdimentioning
confidence: 99%