Downside Risk Implications of Multinationality and Real Options

Tarik Driouchi, Giuliana Battisti, David Bennett

Research output: Unpublished contribution to conferenceUnpublished Conference Paperpeer-review


This paper studies the relationship between multinationality and performance under a real options lens. Based on a cross-sectional panel of multinational corporations (MNCs) that are likely to use real options reasoning for the management of their operations, we test the impact of operating and strategic options on firms’ risk-returns parameters. Our evidence reveals that both multinationality and flexibility enhance corporate performance and reduce downside risk.
Original languageEnglish
Publication statusPublished - 2006
Event10th Annual International Conference - New York, United States
Duration: 14 Jun 200617 Jun 2006


Conference10th Annual International Conference
Country/TerritoryUnited States
CityNew York


  • Multinationality; Real Options; Downside risk; Empirics


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