Internationalization and financial performance in Colombian firms

Juan Camilo Galvis Ciro; Luz Dary Botero Pinzón; Iván de J. Montoya Gómez

doi:10.46661/rev.metodoscuant.econ.empresa.10640

Internationalization and financial performance in Colombian firms

Research output: Contribution to scientific journal › Article in an indexed scientific journal › peer-review

Abstract

Research on Colombian Multilatinas has been little explored in the international business literature. Initially, this paper shows that foreign investment flows from Colombia to the world have growth significantly in recent years and the participation of Colombian companies among the largest in Latin America has increased. Then, based on a data panel of 11 Colombian firms for the 2015-2022 period, we analyze the relationship between financial performance and internationalization. The econometric results indicate that international expansion is an important variable to understand the financial performance of Colombian companies.

Translated title of the contribution	Internacionalización y desempeño financiero en las Multilatinas colombianas
Original language	English
Article number	10640
Pages (from-to)	1-23
Number of pages	23
Journal	Revista de Metodos Cuantitativos para la Economia y la Empresa
Volume	39
DOIs	https://doi.org/10.46661/rev.metodoscuant.econ.empresa.10640
State	Published - 26 Jun 2025

Bibliographical note

Publisher Copyright:
Copyright (c) 2024 Juan Camilo Galvis Ciro , Luz Dary Botero Pinzón, Iván de J. Montoya Gómez. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Keywords

62-07
62H12
C01
D2
F23
financial performance
internationalization
Multilatinas

Types Minciencias

Artículos de investigación con calidad Q4

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10.46661/rev.metodoscuant.econ.empresa.10640

Cite this

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title = "Internationalization and financial performance in Colombian firms",

abstract = "Research on Colombian Multilatinas has been little explored in the international business literature. Initially, this paper shows that foreign investment flows from Colombia to the world have growth significantly in recent years and the participation of Colombian companies among the largest in Latin America has increased. Then, based on a data panel of 11 Colombian firms for the 2015-2022 period, we analyze the relationship between financial performance and internationalization. The econometric results indicate that international expansion is an important variable to understand the financial performance of Colombian companies. ",

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note = "Publisher Copyright: Copyright (c) 2024 Juan Camilo Galvis Ciro , Luz Dary Botero Pinz{\'o}n, Iv{\'a}n de J. Montoya G{\'o}mez. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.",

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doi = "10.46661/rev.metodoscuant.econ.empresa.10640",

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T1 - Internationalization and financial performance in Colombian firms

AU - Galvis Ciro, Juan Camilo

AU - Botero Pinzón, Luz Dary

AU - Montoya Gómez, Iván de J.

N1 - Publisher Copyright: Copyright (c) 2024 Juan Camilo Galvis Ciro , Luz Dary Botero Pinzón, Iván de J. Montoya Gómez. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

PY - 2025/6/26

Y1 - 2025/6/26

N2 - Research on Colombian Multilatinas has been little explored in the international business literature. Initially, this paper shows that foreign investment flows from Colombia to the world have growth significantly in recent years and the participation of Colombian companies among the largest in Latin America has increased. Then, based on a data panel of 11 Colombian firms for the 2015-2022 period, we analyze the relationship between financial performance and internationalization. The econometric results indicate that international expansion is an important variable to understand the financial performance of Colombian companies.

AB - Research on Colombian Multilatinas has been little explored in the international business literature. Initially, this paper shows that foreign investment flows from Colombia to the world have growth significantly in recent years and the participation of Colombian companies among the largest in Latin America has increased. Then, based on a data panel of 11 Colombian firms for the 2015-2022 period, we analyze the relationship between financial performance and internationalization. The econometric results indicate that international expansion is an important variable to understand the financial performance of Colombian companies.

KW - 62-07

KW - 62H12

KW - C01

KW - D2

KW - F23

KW - financial performance

KW - internationalization

KW - Multilatinas

UR - https://www.scopus.com/pages/publications/105011961510

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DO - 10.46661/rev.metodoscuant.econ.empresa.10640

M3 - Artículo en revista científica indexada

AN - SCOPUS:105011961510

SN - 1886-516X

VL - 39

SP - 1

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JO - Revista de Metodos Cuantitativos para la Economia y la Empresa

JF - Revista de Metodos Cuantitativos para la Economia y la Empresa

M1 - 10640

ER -

Internationalization and financial performance in Colombian firms

Abstract

Bibliographical note

Keywords

Types Minciencias

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