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| Author: | Lee, S-H. Makhija, M. |
| Title: | Flexibility in internationalization: is it valuable during an economic crisis? |
| Journal: | Strategic Management Journal
2009 : MAY, VOL. 30:5 p. 537-555 |
| Index terms: | exports investments strategic planning financial crises management Korea |
| Language: | eng |
| Abstract: | The paper examines the value of the strategic flexibility provided by firms' international investments during an economic crisis. Firms need to adapt quickly to this significant change in the environment to avoid below-par performance, which makes real options very valuable to them. The paper considers foreign direct investments and export-related international investments, and develops two measures directly assessing the flexibility derived from each that are new to the literature. Findings reveal that both types of international investments provided valuable flexibility for Korean firms during the economic crisis conditions. |
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