This paper presents an objective measurement of industry globalization. Although crucial in understanding firm strategies, industry globalization has been largely subjectively measured, consisting of mostly case studies. This research develops a two-pronged measure of industry globalization...

This study examines the effects of the degree of industry globalization on international alliance formation in terms of the type of alliance chosen by partner firms and stock market responses to the chosen type of alliance. Using a sample of 244 international alliances formed between U.S. and...