Advantages to conform to local norms (localization)
- It helps to improve the image of subsidiaries.
- Too much debt is not good for the investors as they find it too risky to invest.
- Not enough debt can be interpreted as being an insensitive MNE to local monetary policy.
- Local debt positions you at the same level of your competitors being no unfair competition... displayed 300 characters
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Disadvantages to conform to local norms (localization):
- Cannot overcoming imperfection in national capital market
- The consolidated balance sheet may have little sense as is not strictly attached to any specific procedure.
- Local debt must be guaranteed by the parent firm.
- A possible solution could be to minimize both the subsidiaries and the parent firms cost of capital as the international and the domestic firm pursue the same objective... displayed next 300 characters
Riordan does not have enough cash to pay off its current liabilities and long-term debt. This may mean that Riordan is having problems converting assets to cash, and may be danger of bankruptcy--comparing its cash to its debts shows that Riordan appears to be relying on long-term debt to survive...
We are simply told how to solve a problem or accomplish a task. We are never taught why or how something works. If we do not attempt to break out of that mold, we will never get to the point where we wonder why or how things work...
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