The relationship between international diversification and firm performance: Why it remains a puzzle
探讨国际多元化与企业绩效关系为何长期无定论，通过美国公司及其海外子公司的贸易流数据，提出更全面的地理范围概念化，以推动该领域研究。
Abstract Despite a wealth of empirical research, whether and how international diversification impacts firm performance remains one of the major unresolved research questions in the fields of strategy and international business. We propose that the lack of consensus about the nature of the international diversification–firm performance relationship results from a failure to fully grasp this complex phenomenon. Using data on trade flows of U.S. companies and their foreign subsidiaries, we provide a more focused and comprehensive perspective on the activities that define the geographic scope of U.S. companies that we hope will motivate a conceptualization of international diversification that encompasses the full range of activities that determine the geographic scope of a firm.