The International Specialist Strategy: Financial Funding and Deployment

Mascarenhas, Briance

Volume 16, Numbers 1 & 2 / March/June , Pages 1-154

Multinational Finance Journal, 2012, vol. 16, no. 1/2, pp. 87-103

Briance Mascarenhas , Rutgers University, USA Corresponding Author

Abstract:
Many firms facing global competition are seeking to become specialists. This study examines international specialists, defined as companies that produce, sell, and expand internationally within one industry. This study examines their capital sourcng and deployment. Analysis of a knowledge-intensive industry, pharmaceuticals, suggests that firms which pursue this focused strategy match their funding and deployment of financial resources. They use equity funding and invest it heavily in research in order to develop international proprietary niches.

Keywords : strategy; focus; niche; international; diversification; finance
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