Essays on firm growth and value creation

In an era of rapid technological progress and major political and economic transformations across the globe, changes in geographical and product portfolios of firms become more of a rule than an exception. Hence, prior research investigated which strategies and entry modes firms choose, and how they perform as a consequence. However, relatively little attention was paid to how organizational experience bases are developed and used as companies expand into a variety of countries and industries. In particular, the role of the novelty of an investment to be undertaken and the environmental conditions under which it is attempted, remained understudied. Studies presented in this thesis explicitly address these issues.