Geographic Diversification and Agency Costs of Debt of Multinational Firms

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The Determinants of Capital Structure for Australian Multinational and Domestic Corporations (2005, methodology): “Following Tallman and Li (1996) and Doukas and Pantzalis (2003) diversification (DIVER) is measured as:”
Flexibility in internationalization: is it valuable during an economic crisis? (2009, background): “…can be overwhelmed by the complexity of coordinating different operations (Rugman and Verbeke, 2004; Tong and Reuer, 2007), which may reduce the benefits of operational flexibility that the MNC hopes to have (Doukas and Pantzalis, 2003; Roth, Schweiger, and Morrison, 1991; Tong and Reuer, 2007).”
Diversification and the Cost of Debt of Bank Holding Companies (2007, unknown): “4 Robustness Tests As pointed out by Doukas and Pantzalis (2003), OLS regression of pooled time-series and cross-sectional data may suffer from bias due to autocorrelation of the residuals.”