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Author: Cynthia A. Montgomery
Publisher:
ISBN:
Category : Business planning
Languages : en
Pages : 239
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Author: Cynthia A. Montgomery
Publisher:
ISBN:
Category : Business planning
Languages : en
Pages : 239
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Author: Suresh S. Prabhu
Publisher:
ISBN:
Category :
Languages : en
Pages : 178
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Author: Jon G. Kalinowsky
Publisher:
ISBN:
Category : Chief executive officers
Languages : en
Pages : 33
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Author: Constantinos Markides
Publisher: MIT Press
ISBN: 9780262133111
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This work examines the causes and consequences of the "refocusing" phenomenon, where companies have stopped diversifying and begun focusing once more on their core product lines. Coverage includes a discussion of the effects of refocusing on market value, profitability and organizational structure.
Author: Dilip Mirchandani
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 472
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Author: E. Ralph Biggadike
Publisher:
ISBN:
Category : Conglomerate corporations
Languages : en
Pages : 256
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Author: Cynthia A. Montgomery
Publisher:
ISBN:
Category : Diversification in industry
Languages : en
Pages : 278
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Author: Ron Adner
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
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An extensive empirical literature in strategy and finance studies the performance implications of corporate diversification. Two core debates in the literature concern the existence of a diversification discount and the relative importance of industry relatedness and market structure for the performance of diversifiers. We address these debates by building a formal model in which the extent of diversification is endogenous and depends on the degree of industry relatedness. Firms' diversification choices affect both their own competitiveness and market structure. We find a non-monotonic effect of relatedness on performance: while greater relatedness increases the competitiveness of diversified firms, it can also spur additional diversification, thereby eroding market structure and performance. In addition, our model elucidates the emergence of heterogeneity in firm scope strategies. We use the model to generate data and show how the negative effect of relatedness on market structure can give rise to spurious inference of a diversification discount in cross-sectional regressions.
Author: Michael Lounsbury
Publisher:
ISBN: 0762313021
Category : Associations, institutions, etc
Languages : en
Pages :
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Author: Ron Adner
Publisher:
ISBN:
Category :
Languages : en
Pages :
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