Do Multinational Operations Influence Firm Value? Evidence from the Triad Regions

This paper examines the effect of multinational operations on firm value using a sample of firms from the three triad regions of the world. Using the Transnational Index (reported by the United Nations), a newer measure of multinational operations, this study helps explain some of the conflicting findings reported in the literature and highlights the importance of location of the firm as a factor in influencing the premium or discount in firm value due to multinational operations. Key words: multinational operations; firm value; transnational index JEL classification: F23 1