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Author :
Publisher :
ISBN 13 : 9781854496614
Total Pages : pages
Book Rating : 4.4/5 (966 download)
Download or read book Optimal Geographic Diversification and Firm Performance written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sajid Ali
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (13 download)
Download or read book Corporate Diversification and Firm Performance written by Sajid Ali and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aimed to investigate the relationship between corporate diversification and firm performance in a developing country. Previous studies have found that the mixed results have been established between these two constructs in developed countries such as linear, u-shaped or inverted u-shaped relationship. To this end, a sample of 141 non-financial companies over the period of 2003 to 2013 listed on Pakistani stock market was used to analyze the impact of diversification strategy on the performance of firm. Corporate diversification is divided into two types including product and geographic diversification. The findings of the study demonstrated that an inverted u-shaped relationship existed as performance increased up to a certain level due to the related diversification strategy and then it fell down drastically. It showed that too much diversification creates agency problems and internal inefficiencies. It has implications for agency problems, weak corporate governance structures, and family relationships.
Author : Johanna Laufenberg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (1 download)
Download or read book An Empirical Analysis of Large Firms' Diversification Strategies written by Johanna Laufenberg and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes existing research on the effects of product and geographical diversification on firm performance. Building on this, we examine interaction effects of product and geographical diversification and the influence of diversification on firm performance in times of an economic-wide shock. Data on firm performance, diversification and control variables of the 500 largest firms worldwide from the years 2004 to 2014 is obtained to test our hypothesis with an OLS regression. We use separate time-wise samples to distinguish between the crisis and stable period. Our results confirm the previous findings that the main effects of related product and geographical diversification on firm performance are positive while unrelated product diversification has a negative impact. In addition to the current state of research, we find that only related product diversification, and not unrelated product diversification, interacts with geographical diversification to impact firm performance negatively. Moreover, we find that in times of an economy-wide shock, the impact of related product diversification and the impact of the interaction between related product and geographical diversification is higher. Overall, results indicate that related product and geographical diversification offer the potential to increase market power and put excess physical as well as knowledge-based resources to work. Combined levels of related product and geographical diversification have a negative impact on performance due to increased coordination and communication costs.
Author : Randall Morck
Publisher :
ISBN 13 : 9789616273183
Total Pages : 37 pages
Book Rating : 4.2/5 (731 download)
Download or read book Why firms diversify written by Randall Morck and published by . This book was released on 1998 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David J. Storey
Publisher : Routledge
ISBN 13 : 113483988X
Total Pages : 328 pages
Book Rating : 4.1/5 (348 download)
Download or read book The Performance of Small Firms written by David J. Storey and published by Routledge. This book was released on 2016-07-22 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study, originally published in 1987, addresses the question of small firm performance. Drawing on an extensive database containing financial, employment and ownership data for several thousand small firms, the book examines whether small firms do actually provide jobs, whether they grow and why small firms fail. Guidance is given on how to spot the signs of impending failure in a small business, which is of use to accountants small business PR actioners and government grant providers.
Author :
Publisher :
ISBN 13 : 9781949373943
Total Pages : 325 pages
Book Rating : 4.3/5 (739 download)
Download or read book Strategic Management (color) written by and published by . This book was released on 2020-08-18 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Management (2020) is a 325-page open educational resource designed as an introduction to the key topics and themes of strategic management. The open textbook is intended for a senior capstone course in an undergraduate business program and suitable for a wide range of undergraduate business students including those majoring in marketing, management, business administration, accounting, finance, real estate, business information technology, and hospitality and tourism. The text presents examples of familiar companies and personalities to illustrate the different strategies used by today's firms and how they go about implementing those strategies. It includes case studies, end of section key takeaways, exercises, and links to external videos, and an end-of-book glossary. The text is ideal for courses which focus on how organizations operate at the strategic level to be successful. Students will learn how to conduct case analyses, measure organizational performance, and conduct external and internal analyses.
Author : Randall Morck
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Why Firms Diversify written by Randall Morck and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We present empirical evidence that cross-industry diversification, geographic diversification, and firm size add value in the presence of intangibles related to Ramp;D or advertizing, but destroy value in their absence, presumably due to agency problems. This is consistent with synergy stemming from the internalization of markets for information-based assets. This supports Livermore (1935), who found a similar relationship between intangible assets, like Ramp;D or advertising, and superior post-takeover firm performance in the U.S. quot;turn of the centuryquot; merger wave. We also find that the market for corporate control tends to make corrections in the appropriate direction. Firms that are large or diversified, but have few information-based assets, are unusually likely to become hostile takeover targets. In contrast, small undiversified firms with such assets are unusually likely to become targets in friendly mergers.
Author : 王綺楓
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (715 download)
Download or read book Geographic Diversification and Firm Value written by 王綺楓 and published by . This book was released on 2008 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Amit Karna
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Individual and Joint Performance Effects of Diversification, Geographic Scope and Organizational Leverage in Professional Service Firms written by Amit Karna and published by . This book was released on 2014 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extant theory and empirical evidence suggest that strategies of diversification and geographic scope expansion carry benefits as well as costs. However, it is unclear whether the arguments relating diversification and geographic scope expansion with firm performance are applicable in the specific context of professional service firms (PSFs). These firms are also characterized by particular organizational features, such as the importance of maintaining an optimal leverage ratio, defined as the ratio between junior professionals and senior ones as partners. Our hypothesis development suggests an inverted U-shaped relationship between service line diversification, geographic scope and leverage on the one hand, and PSF performance on the other. We empirically test these relationships using fixed-effects regression and polynomial response surface analysis (RSA) on panel data from 61 German law firms from 2003 to 2012. RSA provides a finely-grained understanding of the relationships among the variables of interest. We find an inverted U-shaped performance effect of diversification and leverage, but no relationship between geographic scope and performance. Moreover, we find evidence of a complementary relationship between diversification and leverage ratio. We conclude with a discussion of our findings and their implications for theory and practice.
Author : Markus Schmid
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)
Download or read book Geographic Diversification and Firm Value in the Financial Services Industry written by Markus Schmid and published by . This book was released on 2013 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether geographic diversification is value-enhancing or value-destroying in the financial services sector, broadly defined. Our dataset comprises approximately 3,579 observations over the period from 1985 to 2004 and covers the entire range of U.S. financial intermediaries ndash; commercial banks, investment banks, insurance companies, asset managers, and financial infrastructure services firms. We use two alternative measures of geographic diversification: (1) a dummy variable whether the firm reports more than one geographic segment and (2) the percentage of sales from non-domestic operations. Our results indicate that geographic diversification is not associated with a significant valuation discount in financial intermediaries. However, when accounting for the firms' main activity-areas, we find evidence of a significant discount associated with geographic diversification in securities firms and a premium in credit intermediaries and insurance companies. All these results are robust after taking into account functional diversification of the firms as well as a potential endogeneity of both functional and geographic diversification.
Author : Enrico Santarelli
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (13 download)
Download or read book Diversification Strategies and Firm Performance written by Enrico Santarelli and published by . This book was released on 2013 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is based upon the assumption that firm profitability is determined by its degree of diversification which in turn is strongly related to the antecedent decision to carry out diversification activities. This calls for an empirical approach that permits the joint analysis of the three interrelated and consecutive stages of the overall diversification process: diversification decision, degree of diversification, and outcome of diversification. We apply parametric and semiparametric approaches to control for sample selection and endogeneity of diversification decision in both static and dynamic models. After controlling for industry fixed-effects, empirical evidence from firm-level data shows that diversification has a curvilinear effect on profitability: it improves firms' profit up to a point, after which a further increase in diversification is associated with declining performance. This implies that firms should consider optimal levels of product diversification when they expand product offerings beyond their core business. Other worth-noting findings include: (i) factors stimulating firms to diversify do not necessarily encourage them to extend their diversification strategy; (ii) firms which are endowed with highly skilled human capital are likely to successfully exploit diversification as an engine of growth; (iii) while industry performance does not influence profitability of firms, it impacts their diversification decision and degree.
Author : Muhammad Shahbaz
Publisher : Springer Nature
ISBN 13 : 9811616922
Total Pages : 290 pages
Book Rating : 4.8/5 (116 download)
Download or read book The Dynamics of Intellectual Capital in Current Era written by Muhammad Shahbaz and published by Springer Nature. This book was released on 2021-06-01 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an authoritative, inter-disciplinary, and up-to-date survey of relevant concepts, research areas, and applications of intellectual capital. Until now, the literature had lacked a comprehensive analysis of intellectual capital (IC) in regard to sustainability, block chain, and other related technologies and virtual environments. This book shows the importance of intellectual capital for contemporary organizations: how it contributes to theories of the firm, how it affects organizational performance, how is it linked with the organizational ambidexterity, how it connects to the technological developments like block chain and digital technologies, and what would be its association with sustainability. Central to our thesis is the systemic nature of intellectual capital in organizations: how intellectual capital interacts with and complements other organizational resources and developments. This book also shows as to how applying the notion of intellectual capital to organizations requires us to consider how intangible forms of capital differ from more traditional forms, implying the need for a theory of firm that accommodates a concept of dynamic, heterogeneous intellectual capital. Although a lot has been written on IC, this book proves to be the first with scholastic and action-oriented perspective on as to how a firm can manage its IC to create value. This book also demonstrates as to how the subjective aspects of IC can be measured and what can be their strategic implications. A discussion on IC disclosure also appears in the latter part of the book. In doing so, this book reveals as to how the value creation of today’s businesses is driven by the IC. This book also introduces the readers to the new application of IC and its association with the contemporary disruptive technologies. This is a book for IC researchers and academicians who want to understand the diverse aspects of IC, for business managers who want to be at the cutting edge, for those early in their careers who seek a challenging new path, and for the top-level managers of the world who have their eye on the future.
Author : David G. Hoopes
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.3/5 ( download)
Download or read book Measuring Geographic Diversification and Product Diversification written by David G. Hoopes and published by . This book was released on 1994 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Asli M. Colpan
Publisher : Oxford Handbooks Online
ISBN 13 : 019955286X
Total Pages : 828 pages
Book Rating : 4.1/5 (995 download)
Download or read book The Oxford Handbook of Business Groups written by Asli M. Colpan and published by Oxford Handbooks Online. This book was released on 2010-08-05 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook provides a comprehensive analysis of business groups around the world. It focuses on the adaptive and competitive capabilities of business groups and their evolutionary dynamics, as well as considering the historical and theoretical contexts of business groups.
Author : Michael Lounsbury
Publisher :
ISBN 13 : 0762313021
Total Pages : pages
Book Rating : 4.7/5 (623 download)
Download or read book Research in the Sociology of Organizations: Professional service firms written by Michael Lounsbury and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan M. Rugman
Publisher : Cambridge University Press
ISBN 13 : 9781139442862
Total Pages : 292 pages
Book Rating : 4.4/5 (428 download)
Download or read book The Regional Multinationals written by Alan M. Rugman and published by Cambridge University Press. This book was released on 2005-01-06 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although many firms label themselves 'global', very few can back this up with truly global sales and operations. In The Regional Multinationals Alan Rugman examines first-hand data from multinationals and finds that most multinationals are strongly regional, with international operations in their home regions of North America, the US or Asia. Only a tiny proportion of the world's top 500 companies actually sell the same product and deliver the same services around the world. Rugman exposes the facts behind the popular myths of doing business globally, explores a variety of regional models and offers an authoritative agenda for future business strategy. The Regional Multinationals is the essential resource for all academics and students in International Business, Organization and Strategic Management, as well as those with an interest in finding out how multinationals really work in practice and how future strategy must respond.
Author : Colin B. Carter
Publisher : Harvard Business Press
ISBN 13 : 1422163229
Total Pages : 257 pages
Book Rating : 4.4/5 (221 download)
Download or read book Back to the Drawing Board written by Colin B. Carter and published by Harvard Business Press. This book was released on 2003-10-16 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business scandals from Enron to WorldCom have escalated concerns about corporate governance into a full-blown crisis. Institutional investors and legislators have dominated the debate and enacted important changes in corporate accounting and other areas. But Colin B. Carter and Jay W. Lorsch say that we must now focus on the performance of corporate boards. This timely book argues that boards are being pressed to perform unrealistic duties given their traditional structure, processes, and membership. Carter and Lorsch propose a strategic redesign of boards--making them better attuned to their oversight, decision-making, and advisory roles--to enable directors to meet 21st century challenges successfully. Based on the authors' deep expertise and longtime experience working with boards around the world, and on a probing survey of CEOs, Carter and Lorsch help boards to develop a realistic value proposition customized to the company they serve. The authors explore the core dilemmas and responsibilities boards face and outline a framework for designing the most effective structure, makeup, size, and culture. This book provides a candid account of the current state of boards and points the way in a time of crisis and change.
