Internationalization Strategy and Financial Performance in Brazilian Firms


  • Pedro Paulo Mendes Silva FECAP
  • João Maurício Gama Boaventura Doutorado em Administração Universidade de São Paulo, USP, Brasil.



Internationalization of Firms, Financial Performance


The internationalization of the firm and the appearance of multinational companies are not recent events. The first initiatives to realize businesses overseas and increase profits in this way date from the beginning from the Modern Age. For Brazilian companies in particular, this phenomenon has been gaining attention since the 1990s, with the commercial opening of the country. The objective of this study was to analyze the strategy of internationalization in Brazilian companies, in particular the case of publically traded companies with foreign direct investments greater than $10 million, and the relation with the financial performance of these companies. Through a quantitative study using the rate of variation of internationalization and financial performance, researchers developed an analysis of the relation between the process of internationalization and financial performance indicators in nine companies that make up the non-probabilistic sample of convenience. The results concluded that there is a weak positive correlation with financial indicators of growth; profitability metrics show a negative relationship in some of the independent variables.


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Author Biography

Pedro Paulo Mendes Silva, FECAP

possui graduação em Administração pelo Centro Universitário Álvares Penteado (2009) e curso-tecnico-profissionalizante pelo Centro Universitário Álvares Penteado (2005) .



How to Cite

Silva, P. P. M., & Boaventura, J. M. G. (2011). Internationalization Strategy and Financial Performance in Brazilian Firms. Revista Ibero-Americana De Estratégia, 10(3), 04–21.