Purpose This paper aims to explore the ambiguity and limitations of measuring firm-level multinationality (FLM) using …

theories of International Business, the S-curve relationship between multinationality and performance, by arguing that there is … no positive impact on performance aside from the scale enhancing effect resulting from increasing multinationality. We …. We find that the empirical evidence for a direct positive impact of multinationality on performance is not convincing …

In the literature, the impact of multinationality on the valuation of multinational companies is heavily debated. To … understand this impact on valuation, we need to clarify whether and how multinationality affects systematic risk. For this … purpose, we analyze the state of research concerning the impact of corporate multinationality on systematic risk, conducting a …