Multinationality, product diversification, and profitability of emerging US small- and medium-sized enterprises |
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| Authors: | Gongming Qian |
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| Institution: | 1. Cancer Outcomes, Public Policy, and Effectiveness Research (COPPER) Center at Yale and the Yale School of Medicine, New Haven, Connecticut;2. Cedars-Sinai Medical Center, Los Angeles, California;1. London School of Economics and Political Science, Department of Management, Houghton Street, WC2A 2AE London, UK;2. Imperial College Business School, Tanaka Building, South Kensington Campus, SW7 2AZ London, UK;3. Tsinghua University, School of Economics and Management, Tsinghua Xi Road, Haidian, Beijing, China;1. Indian Institute of Management, Prabandh Shikhar, Rau Pithampur Road, Indore, MP 453556, India;2. Xavier School of Management, XLRI Delhi-NCR Campus, Aurangpur Village, Dadri Toye, Untloda, Haryana 124103, India |
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| Abstract: | This paper examines empirically individual and joint effects of multinationality and product diversification on profit performance for a sample of emerging small- and medium-sized enterprises (SMEs). The results suggest a curvilinear relationship between them: that is, they are positively related up to a point, after which a further increase in multinationality and product diversification was associated with declining performance. This implies that firms should consider optimal levels of multinationality and product diversification when they expand product offerings and geographic markets. And the results also show that research and development (R&D) expenditure and debt level were contributing significantly to profit performance. |
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| Keywords: | Multinationality Product diversification Emerging SMEs Profitability |
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