国外多元化和专业化策略与公司绩效外文翻译.docVIP

外文翻译 Foreign diversification vs concentration strategies and firm performance MaterialSource:/0265-1335.htm Author:Francisco Firstly, the lack of consensus on the relationship foreign concentration/diversificatin→performance has been explained through the existence of operational problems in performance measurement. Empirical literature uses many different ways to measure performance, and the use of a multi-dimensional construct is perhaps the most appropriate (Katsikeas,2000). Accordingly, our　study simultaneously applies two different referents to compare foreign performance from several angles: accounting rate and a market evaluation measure.These measures, although interrelated, reflect different aspects of performance,with their respective advantages and limitations (Ross,1983;Keats,1988). The limitations of each measure(accounting and market measures) can be solved through their joint use (Ross, 1983). Secondly, literature has mainly examined the impact of concentration/diversificationstrategies on firm performance in the context of export market expansion (Attiyeh and Wenner, 1981; Lee and Yang, 1990; Piercy, 1981a). Alternatively, our paper is focused on exports and foreign direct investment (FDI). This is explained as follows: The use of marketing efforts is independent of the instrument of expansion (FDI or exports). In principle, in the way that concentration/diversification strategies stress the gradual/rapid expansion of a firm and marketing efforts allocated to new markets, these strategies (concentration vs diversification) seem to imply different levels of marketing efforts and different instruments in each market. In fact, given fixed resources, those assigned to each market in a diversification strategy are less than in a concentration strategy . A low level of marketing efforts in a diversification strategy would imply less sales promotion, a greater tendency to use independent agents (exports) and skimming price (initially high prices descendin