The study addresses three questions: Is the relationship between firms' internationalization and global brand value linear or non-linear? Is higher global brand value associated with higher diversified operation and vice versa? Is the relationship between higher global brand value and international diversification more salient in case of U.S. companies? In order to find answers to these questions, the authors investigate the association between global market expansion and global brand power. The study provides evidence that the two variables mutually benefit each other.