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...

Abstract 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...