TY - JOUR A1 - Hassel, Anke A1 - Höpner, Martin A1 - Kurdelbusch, Antje A1 - Rehder, Britta A1 - Zugehör, Rainer ED - Morgan, Glenn T1 - Two Dimensions of the Internationalization of Firms JF - Journal of Management Studies N2 - The paper argues that there are two dimensions of internationalization: one which refers to the production activities of firms abroad and one which focuses on the corporate governance dimension of firms. While the first one is well known in the literature on internationalization, the financial dimension has not yet been addressed empirically. At the same time there are indicators that financial internationalization is gaining importance. Using a sample of the 100 largest German companies it shows that both dimensions, the real and the financial dimension, do not co‐vary and therefore cannot be combined into one index. Y1 - 2003 U6 - https://doi.org/10.1111/1467-6486.00357 VL - 40 IS - 3 SP - 705 EP - 723 ER -