Abstract
The research studies the internationalization process model developed by Johanson and Vahlne and derives integer programming investment decision model that consider the risk attitudes of investment firms. Johanson and Vahlne's model provides a starting point for building a model that suits the investment approach and decision making process. The revised integer programming models helps firms manage the risks of their investments and derive accurate investment strategies based on investment objectives and constraints. This research also performs the sensitivity analysis of the revised international investment decision model.