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Performance Effects Of Corporate Diversification
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Book Synopsis Diversification, Industry Dynamism, and Economic Performance by : Matthias Knecht
Download or read book Diversification, Industry Dynamism, and Economic Performance written by Matthias Knecht and published by Springer Science & Business Media. This book was released on 2013-07-01 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decision to diversify lies at the core of corporate strategy and is one of the most important decisions for top management. Matthias Knecht introduces a new perspective on corporate diversification that extends the academic discussion and reveals substantial new insights with regards to one of the most pressing questions in strategic management: what makes a diversification strategy successful? The author introduces the dynamism of industries as the dominant force in the firm’s environment that influences the organization on all levels. Due to strategic, organizational, and managerial similarities of businesses competing in similar dynamic environments, synergistic benefits and superior economic performance can be realized through the combination of dynamic-related businesses in the corporate portfolio. This study provides a quantitative, multidimensional operationalization of industry dynamism and an in-depth assessment of the dynamism of a wide range of industries. At the core of the study lies the investigation of the performance impact of dynamic-related diversification strategies. The results provide new insights into successful portfolio construction strategies in the face of today’s dynamic environments.
Book Synopsis Diversification, Refocusing, and Economic Performance by : Constantinos Markides
Download or read book Diversification, Refocusing, and Economic Performance written by Constantinos Markides and published by MIT Press. This book was released on 1995 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Performance Effects of Corporate Diversification by : Hüseyin Tanriverdi
Download or read book Performance Effects of Corporate Diversification written by Hüseyin Tanriverdi and published by . This book was released on 2001 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Takeovers and Productivity by : Frank R. Lichtenberg
Download or read book Corporate Takeovers and Productivity written by Frank R. Lichtenberg and published by MIT Press. This book was released on 1992 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this revealing study Frank Lichtenberg uses Census Bureau and other data on hundreds of business transactions during the 1970s and 1980s to examine the effects of changes in corporate control on productivity. The 1980s saw explosive activity in the arena of corporate takeovers. In this revealing study Frank Lichtenberg uses Census Bureau and other data on hundreds of business transactions during the 1970s and 1980s to examine the effects of changes in corporate control on productivity. He concludes that the restructuring of the U.S. economy during the past decade has contributed to higher productivity and increased international competitiveness. Corporate Takeovers and Productivity examines the effects of mergers and acquisitions, in general, and leveraged buyouts, in particular on a number of important, interrelated variables: on the productivity and market share of manufacturing plants, on fixed and R&D investment, on the employment and wages of both blue- and white-collar workers, and on corporate diversification. Among Lichtenberg's findings are that the least productive plants are most likely to change owners - a change that tends to raise productivity performance; that takeovers significantly reduce the employment and wages of white-collar workers (except R&D personnel) but not of blue-collar workers; that industrial consolidation is one source of the productivity gains from takeovers; and that the U.S. LBOs and foreign mergers and acquisitions do not have the same effects as U.S. mergers and acquisitions.
Book Synopsis Corporate Diversification by : E. Ralph Biggadike
Download or read book Corporate Diversification written by E. Ralph Biggadike and published by . This book was released on 1979 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Diversification, Relatedness, and Performance by : Frithjof Pils
Download or read book Diversification, Relatedness, and Performance written by Frithjof Pils and published by Springer Science & Business Media. This book was released on 2009-04-09 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frithjof Pils uses multiple statistical techniques to examine the true nature of the relationships between diversification strategies and accounting-based, market-based, and growth-based performance. The author shows implications for the interpretation of past research, the design of future research including the use of meta-analysis methodologies, as well as management practice.
Book Synopsis The Effects of Corporate Diversification and Control on Division Risk-taking Strategy and Performance by : Hae Ryong Kim
Download or read book The Effects of Corporate Diversification and Control on Division Risk-taking Strategy and Performance written by Hae Ryong Kim and published by . This book was released on 1998 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Risky Business of Diversification by : Ralph Biggadike
Download or read book The Risky Business of Diversification written by Ralph Biggadike and published by . This book was released on 1979-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effects of Corporate Diversification and Control on Division Risk-taking Strategy and Performance by : KAE H.CHUNG 외
Download or read book The Effects of Corporate Diversification and Control on Division Risk-taking Strategy and Performance written by KAE H.CHUNG 외 and published by . This book was released on 1999 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers, Sell-Offs, and Economic Efficiency by : David J. Ravenscraft
Download or read book Mergers, Sell-Offs, and Economic Efficiency written by David J. Ravenscraft and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the consolidation and merger of corporations and corporate divestiture in the United States.
Book Synopsis Performance Impact of Business Group Affiliation by : Manohar Singh
Download or read book Performance Impact of Business Group Affiliation written by Manohar Singh and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: To understand the performance implications of corporate strategies as conditioned by business group affiliations, we analyze the relationship between corporate diversification and performance for 889 Indian firms. We find that diversified firms perform significantly worse than focused firms and that there exists a significant negative relationship between the degree of diversification and firm performance. A comparative analysis of firms affiliated with Indian business groups and those affiliated with MNCs indicates that sources of negative impact of diversification on performance are conditioned by the nature of a firm's affiliation. For multinational affiliates, diversification appears to be associated with poor asset quality and asset management, which is an indicator of possible agency conflict. For domestic business group affiliates, diversification appears to generate cost inefficiencies leading to poor performance.
Book Synopsis Business Diversification Strategy by : Tsuneo Yahagi
Download or read book Business Diversification Strategy written by Tsuneo Yahagi and published by . This book was released on 1981 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Corporate Diversification and Cash Holdings on the Performance of Real Estate Companies by : Chi-Chiu Lai
Download or read book The Impact of Corporate Diversification and Cash Holdings on the Performance of Real Estate Companies written by Chi-Chiu Lai and published by Open Dissertation Press. This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "The Impact of Corporate Diversification and Cash Holdings on the Performance of Real Estate Companies: Empirical Evidence From Hong Kong" by Chi-chiu, Lai, 賴志釗, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Corporate diversification has received much attention from academics and management practitioners for over 30 years. Major work has been dedicated to determining if diversification creates or destroys a firm's value across industries. This study examines the effect of corporate diversification on firm performance using a relatively homogenous sample of 70 publicly listed real estate companies in Hong Kong. Previous studies on the diversification of real estate companies or REITs mainly focused on diversification within real estate holdings across countries or asset types. This study contributes to the literature by examining real estate companies diversifying into other industries and assessing their performance from 2005 through 2010. The empirical findings indicated that Hong Kong real estate firms that chose to diversify into other industries performed better than those solely focused in real estate. Since the decision to diversify may be endogenous, the author used a number of estimation procedures to control for potential endogeneity. The results were robust in that the diversification effect remained positive and significant. Another contribution of this thesis is that it examined the impact of cash holdings on firm value and analyzed the value of cash for real estate companies and how corporate diversification affects the level of cash holdings. The author found that firms with larger cash reserves experienced decreases in their value. This result was consistent with the agency costs of free cash flows in that greater shareholder rights are associated with lower cash holdings. In addition, the author found that diversified firms hold less cash than their focused competitors. The findings supported the prediction of the internal capital market hypothesis that diversified firms are more efficient in allocating resources through internal capital markets and, therefore, reduce their need for large cash holdings. DOI: 10.5353/th_b5153690 Subjects: Real estate business - China - Finance Diversification in industry - China - Hong Kong
Book Synopsis Corporate Diversification and Firm Performance by : Sajid Ali
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.
Book Synopsis The Effect of Diversification on Firm Performance by : Mark Rogers
Download or read book The Effect of Diversification on Firm Performance written by Mark Rogers and published by . This book was released on 2001 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Growth and Diversification by : Charles Horace Berry
Download or read book Corporate Growth and Diversification written by Charles Horace Berry and published by Princeton University Press. This book was released on 2015-03-08 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: As an increasing number of large corporations branch out into many fields of industry, public concern over the lateral extension of their power is aroused. Arguing that entry by large firms into concentrated industries may instead stimulate competition, Charles H. Berry analyzes the effect that such diversification has on corporate growth and on the structure and functioning of industrial markets. To identify a relationship between the growth of large corporations and the pattern of their diversifying activities, Professor Berry examines 460 of the largest U.S. industrial corporations. In tracing the effects of their entry into some 200 manufacturing industries, he develops new and striking evidence of the protected position of leading firms in concentrated industries, a position that can be effectively undermined by the diversification of more powerful corporations into these industries. Originally published in 1975. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Book Synopsis Organizational Learning and Corporate Diversification Performance by : Panayiotis C. Andreou
Download or read book Organizational Learning and Corporate Diversification Performance written by Panayiotis C. Andreou and published by . This book was released on 2016 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the role of organizational learning on the valuation effects of corporate diversification. The empirical findings suggest that corporate diversification reduces shareholders' wealth. However, consistent with the absorptive capacity viewpoint of organizational learning, diversification performance depends on repetitive and accumulative experiences, as captured by a firm's prior diversification activity and/or a firm's experience in operating in multiple-business segments. Specifically, single-business firms that diversify once demonstrate significant value reduction. In contrast, multi-business firms that diversify once do not demonstrate value reduction, while single/multi-business firms that diversify multiple times demonstrate material value creation. Findings also reveal that performance is conditional on the mode of diversification since internal growth diversification show higher valuation effects than diversifications through acquisitions. These findings contribute to the literature by affirming the importance of organizational learning, a cognitive and behavioral perspective, in explaining the valuation effect of corporate diversification.
