| Summary: | 碩士 === 東吳大學 === 國際經營與貿易學系 === 104 === Since liberalization across the world should foster trade, most enterprises are facing the global competition and shrunk profit margin, companies have been unable to create excess profits by the production of products, International diversification is an important strategy to increase the corporate growth opportunities.
This study uses the difference analysis and binary logistic regression to explore the difference of the firm performance and analyzes the performance of earlier and continued investing for international diversification. This study examines the influencing factors of investing decisions for 446 international diversified firms and in Great China from 1996 to 2012.
The results show that the companies’ ROA and Tobin’s Q after international diversification is inferior than before, but if the firms continue to adoping international diversification, the average ROA for 3 years will be better than previous investment, but Tobin’s Q is not significant. The influencing factors of international diversification are Tobin’Q, R&D and Firm Size, but ROA and control variable (free cash flow, dividend payout ratio, debt ratio, ebit, industrial classification, firm age and economy of target countries) are not significant.
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