000			01903naa a2200193uu 4500
001			0042611194837
003			OSt
005			20190211171201.0
008			100426s2009 xx ||||gr |0|| 0 eng d
100	1		_aLEE, Seung-Hyun _936083
245	1	0	_aFlexibility in internationalization : _bis it valuable during an economic crisis?
260			_aBognor Regis : _bWiley-Blackwell, _cMay 2009
520	3		_aThis study investigates the value of the strategic flexibility provided by firms' international investments during an economic crisis, defined here as an unanticipated significant downturn in the economy. To avoid below-par performance, firms need to adapt quickly to this significant change in their environment, making real options very valuable to them. Although firms' international investments can potentially provide such flexibility, this issue has not been empirically examined in a context of such dramatic negative change. We consider two types of international investments by firms in this regard, foreign direct investments and export-related international investments, developing two measures that directly assess the flexibility derived from each that are new to the literature. Based on these measures, we find evidence that both types of international investments provided valuable flexibility for Korean firms during the economic crisis conditions. This study contributes to the literature by showing that firms with real options investments in place have a greater ability to flexibly adapt their overall operations in line with unforeseen negative environmental change, in contrast to firms without such investments.
700	1		_aMAKHIJA, Mona _939652
773	0	8	_tStrategic Management Journal _g30, 5, p. 537-555 _dBognor Regis : Wiley-Blackwell, May 2009 _xISSN 01432095 _w
942			_cS
998			_a20100426 _b1119^b _cDaiane
998			_a20100428 _b1705^b _cCarolina
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c32572 _d32572
041			_aeng