Biblioteca Digital de VanguardiaMultilatinas: Financial performance and speed of international expansion
The phenomenon of Multilatinas companies has aroused the interest of numerous investigations in recent years. In particular, it has been studied why and under what conditions these organizations expand. However, the implications of financial performance conditions on the speed of international expan...
| Autores principales: | , , , |
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| Formato: | Revistas |
| Lenguaje: | Español |
| Publicado: |
Universidad de Cartagena
2022
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| Acceso en línea: | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/4210 |
| _version_ | 1782340348787294208 |
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| author | Bolívar Caro, Luis Miguel Botero Lopez, Michelle Quiroga Castro, Valentina Vergara Arrieta, José Julio |
| author_facet | Bolívar Caro, Luis Miguel Botero Lopez, Michelle Quiroga Castro, Valentina Vergara Arrieta, José Julio |
| author_sort | Bolívar Caro, Luis Miguel |
| collection | Revista |
| description | The phenomenon of Multilatinas companies has aroused the interest of numerous investigations in recent years. In particular, it has been studied why and under what conditions these organizations expand. However, the implications of financial performance conditions on the speed of international expansion of these types of companies still require further clarification and explanation. The objective of this paper is to analyze the speed of internationalization of multilatinas companies and the financial performance factors that affect their international expansion. For this, econometric analysis is carried out, using as dependent variable the speed of international expansion, measured as a ratio of companies’ foreign direct investment (FDI) and sales. As explanatory variables, the financial indicators of profitability, indebtedness and leverage are used. By this, it is possible to identify the relationship between financial performance and the rate at which companies grow in international markets. The size of the company, the economic sectors and the countries of origin of the companies are used as control variables. Results show that profitability and indebtedness have positive effects on the speed of internationalization; as well leverage with certain restrictions. |
| format | Revistas |
| id | oai:revistas.unicartagena.edu.co:article-4210 |
| institution | Revista Panorama Económico |
| language | Español |
| publishDate | 2022 |
| publisher | Universidad de Cartagena |
| record_format | ojs |
| spelling | oai:revistas.unicartagena.edu.co:article-42102023-04-29T02:52:04Z Multilatinas: Financial performance and speed of international expansion Multilatinas: Desempeño financiero y velocidad de expansión internacional Bolívar Caro, Luis Miguel Botero Lopez, Michelle Quiroga Castro, Valentina Vergara Arrieta, José Julio Speed of international expansion multilatinas profit ratio debt ratio leverage velocidad de internacionalización multilatinas rentabilidad endeudamiento apalancamiento The phenomenon of Multilatinas companies has aroused the interest of numerous investigations in recent years. In particular, it has been studied why and under what conditions these organizations expand. However, the implications of financial performance conditions on the speed of international expansion of these types of companies still require further clarification and explanation. The objective of this paper is to analyze the speed of internationalization of multilatinas companies and the financial performance factors that affect their international expansion. For this, econometric analysis is carried out, using as dependent variable the speed of international expansion, measured as a ratio of companies’ foreign direct investment (FDI) and sales. As explanatory variables, the financial indicators of profitability, indebtedness and leverage are used. By this, it is possible to identify the relationship between financial performance and the rate at which companies grow in international markets. The size of the company, the economic sectors and the countries of origin of the companies are used as control variables. Results show that profitability and indebtedness have positive effects on the speed of internationalization; as well leverage with certain restrictions. El fenómeno de las empresas Multilatinas ha despertado el interés de numerosas investigaciones en los años recientes. En particular se ha estudiado porqué y en qué condiciones se expanden estas organizaciones. Sin embargo, las implicaciones de las condiciones de desempeño financiero en la velocidad de expansión internacional de este tipo de empresas aún requieren mayor clarificación y explicación. El objetivo de este trabajo es analizar la velocidad de internacionalización de las empresas multilatinas y los factores de desempeño financiero que inciden en su crecimiento internacional. Para esto, el trabajo aplica un modelo de análisis econométrico, usando como variable dependiente la velocidad de expansión internacional, definida como la ratio entre el promedio de la inversión extranjera directa (IED) de las empresas y su volumen de ventas. Como variables independientes se emplean las variables de rentabilidad, endeudamiento y apalancamiento. De esta manera, se busca identificar la relación entre los principales indicadores de desempeño financiero y la tasa a la cual crecen las empresas en los mercados internacionales. Se utilizan como variables de control el tamaño de la empresa, los sectores económicos y los países de origen de las empresas. Los resultados evidencian que las variables rentabilidad y endeudamiento guardan relación con la dinámica de la velocidad de internacionalización de las empresas analizadas, asimismo la variable apalancamiento logra explicarla con ciertas restricciones. 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| spellingShingle | Bolívar Caro, Luis Miguel Botero Lopez, Michelle Quiroga Castro, Valentina Vergara Arrieta, José Julio Multilatinas: Financial performance and speed of international expansion |
| title | Multilatinas: Financial performance and speed of international expansion |
| title_full | Multilatinas: Financial performance and speed of international expansion |
| title_fullStr | Multilatinas: Financial performance and speed of international expansion |
| title_full_unstemmed | Multilatinas: Financial performance and speed of international expansion |
| title_short | Multilatinas: Financial performance and speed of international expansion |
| title_sort | multilatinas: financial performance and speed of international expansion |
| url | https://revistas.unicartagena.edu.co/index.php/panoramaeconomico/article/view/4210 |