We revisit the empirical relationship between multinationality and performance by attempting to replicate the widely cited S-shape relationship reported in Lu and Beamish (2004). Using a longitudinal and comprehensive database on the population of US MNCs from 1989 to 2007, we find no evidence...

In this chapter, we embrace the recent phenomenon of early internationalizing firms with the goal of understanding these firms in light of decades of research on multinational firms, which has long stressed liabilities of foreignness. It is often implicitly assumed that the only way to reduce...