TY - JOUR
T1 - Internationalization of US multinational hotel companies
T2 - Expansion to Asia versus Europe
AU - Lee, Seoki
N1 - Funding Information:
I thank the Center for International Business Education and Research (CIBER) at Temple University for their generous financial support. I also thank Jianan Chen who provided excellent research assistance.
PY - 2008/12
Y1 - 2008/12
N2 - Internationalization has been a major expansion strategy for many US corporations including hotel companies. Some researchers argue that internationalization adds value to firms while others hold an opposite perspective. This study examines impacts of general internationalization of US multinational hotel companies (MNHCs) on firm value, estimated by Tobin's Q. Second, the study examines differences between internationalization of US MNHCs in different regions, that is, Asia and Europe. Lastly, the study tests a curvilinear relationship between internationalization and firm value.
AB - Internationalization has been a major expansion strategy for many US corporations including hotel companies. Some researchers argue that internationalization adds value to firms while others hold an opposite perspective. This study examines impacts of general internationalization of US multinational hotel companies (MNHCs) on firm value, estimated by Tobin's Q. Second, the study examines differences between internationalization of US MNHCs in different regions, that is, Asia and Europe. Lastly, the study tests a curvilinear relationship between internationalization and firm value.
UR - http://www.scopus.com/inward/record.url?scp=50149106968&partnerID=8YFLogxK
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U2 - 10.1016/j.ijhm.2007.09.002
DO - 10.1016/j.ijhm.2007.09.002
M3 - Article
AN - SCOPUS:50149106968
SN - 0278-4319
VL - 27
SP - 657
EP - 664
JO - International Journal of Hospitality Management
JF - International Journal of Hospitality Management
IS - 4
ER -