That is to say, the four types of international diversification strategies (LID, RID, URID, HID), not only allow us to identify whether or not there is an international diversification effect over performance, but also to establish comparisons, two by two, between each one of the categories.
We find that the impact of each strategy in performance is as follows: HID > LID > URID > RID.
In particular, when we analyze the different strategies we find that URID and HID firms have a higher Tobin's q.
Finally, it should hold that firms with RID show a lower market value than those with URID (Hypothesis (H 2a)).
There is a certain similarity in the performance obtained with either of them; although we can note a weak superiority, one that is not significant, in the URID category.