This study examines how MNE divestment decisions differ according to real options vs. risk diversification perspectives. We develop competing hypotheses in relation to international diversification and joint ownership control. Empirical results give consistent support to the real options...

Intro -- Contents -- Preface -- Challenge and response: North American firms in East Asia -- Persistent adaptability as survival strategy for MNCs in emerging markets: The case of Nortel Networks in China -- Establishing a successful joint venture: Moore Business Forms in Japan -- Employee...