Reliance on Foreign Markets: Multinationality and Performance

  • Makoto Nakano
  • Bayanjargal Purevdorj

Part of the SpringerBriefs in Business book series (BRIEFSBUSINESS)

Table of contents

  1. Front Matter
    Pages i-ix
  2. Makoto Nakano, Bayanjargal Purevdorj
    Pages 1-30
  3. Back Matter
    Pages 31-35

About this book


This study examines the relationship between multinationality and the performance of Japanese manufacturing companies during the period 1999–2008 by using geographic segment information. Despite the enormous interest in and importance given to multinationality from the academic and business worlds, prior findings about the multinationality–performance relationship are conflicting and inconsistent. The overall results of the present study show that multinationality has a positive impact both on accounting performance and on market-based performance. In additional tests, Japanese electric and electronic equipment companies’ reliance on the Asian market was found to have a negative impact on profitability and no significant impact on firm value, whereas reliance on other foreign markets such as the Americas and the EU had a positive impact on profitability and firm value. The multinationality–performance relationship cannot be generalized and varies among geographic regions. This book contributes to both the multinationality–performance literature and the geographic segment reporting literature by offering empirical evidence about Japanese manufacturing companies and comparing them with prior findings about American companies. ​


firm value multinational corporation overseas operations performance

Authors and affiliations

  • Makoto Nakano
    • 1
  • Bayanjargal Purevdorj
    • 2
  1. 1.Hitotsubashi University Graduate Schl of Commerce & ManagementKunitachiJapan
  2. 2.ChicagoUSA

Bibliographic information

  • DOI
  • Copyright Information The Author(s) 2014
  • Publisher Name Springer, Tokyo
  • eBook Packages Business and Economics
  • Print ISBN 978-4-431-54561-3
  • Online ISBN 978-4-431-54562-0
  • Series Print ISSN 2191-5482
  • Series Online ISSN 2191-5490
  • About this book