Sezgin, VolkanDoruk, Omer TugsalBarak, Ahmet YasirErtugrul, Hasan Murat2026-02-272026-02-2720251544-61231544-613110.1016/j.frl.2025.107173http://dx.doi.org/10.1016/j.frl.2025.107173https://hdl.handle.net/20.500.14669/4506In this empirical study, the relationship between idiosyncratic volatility and international sales of a sample of non-financial firms traded in the S&P 500, over 40 years is investigated by means of regression analysis and local projections method in a dynamic framework based on panel fixed effects. The results show that idiosyncratic volatility discourages international sales significantly. Moreover, according to the results of the local projections method, idiosyncratic volatility gradually reduces international sales and has a long-term effect. The results are robust to various robustness checks.eninfo:eu-repo/semantics/closedAccessIdiosyncratic volatilityInternational salesPanel data analysisDynamic analysisLocal projections methodologyArticle78WOS:001444762500001