Andreas Berlin examines how the degree of internationalization affects the business success of companies. A central element of strategic corporate planning is the question of whether expanding outside the established home market can create value. The focus is on companies from the four BRIC countries. Based on a comprehensive empirical study, the author identifies differences between countries and industries and compares the results with classic studies on industrialized nations. In several steps, he also derives the impact of M&A transactions on the business success of these companies. Finally, recommendations for action are presented on how to purposefully develop internationalization.