haku: @indexterm VALUATION / yhteensä: 677
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| Tekijä: | Ojah, K. Monplaisir, L. |
| Otsikko: | Investors' valuation of global product design and development |
| Lehti: | Journal of International Business Studies
2003 : SEP, VOL. 34:5, p. 457-472 |
| Asiasana: | Product design Investors Valuation Share prices Information technology Infrastructures Alliances Multinational companies |
| Kieli: | eng |
| Tiivistelmä: | Stock price responses to 170 announcements about global product design and development (GPDD) by NYSE, AMEX, and Nasdaq firms are significantly positive. This indicates that GPDD, which is fast becoming a strategic initiative of choice for multinational firms in the face of globalization and short time-to-market, is value-enhancing. The authors found that announcements of GPDD, as a strategic initiative, are positively and significantly associated with excess returns. Additionally, the authors found that the firm's product market structure, its peers' competitive strategy posture, and whether it produces a good or a service, jointly determine the cross-sectional variation in excess returns attributable to GPDD. |
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