Purpose – This paper seeks to analyze the performance implications of the regional and global strategies pursued by multinational companies. It aims to argue that a firm could experience different performance effects for its intra‐ and inter‐regional operations due to differences in the...

A large and robust empirical literature demonstrates that there is a strong relationship between the performance of a multinational enterprise (MNE) and its degree of multinationality. We develop a new metric to capture the return on foreign assets (ROFA), which we use as an alternative metric...

As multinational enterprises (MNEs) expand internationally (for example, as the ratio of foreign (F) to total (T) sales increases), there is a positive effect on firm performance (usually measured by return on total assets (ROTA). We advance this literature in three ways: (i) we focus on the...