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Corporate diversification and asymmetric information: evidence from stock market trading characteristics
16 references·16 citing·39 second hopsampled
Corporate diversification and asymmetric information: evidence from stock market trading characteristics (2003)Corporate diversification and asymmetric …Information Production and Capital Allocation: Decentralized versus Hierarchical Firms (2002)Information Production and Ca…Explaining the Diversification Discount (2002)Explaining the Diversificatio…The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment (2000)The Dark Side of Internal Cap…The Cost of Diversity: The Diversification Discount and Inefficient Investment (2000)The Cost of Diversity: The Di…Internal Capital Markets and the Competition for Corporate Resources (1997)Internal Capital Markets and …Agency Problems, Equity Ownership, and Corporate Diversification (1997)Agency Problems, Equity Owner…Liquidity, Information, and Infrequently Traded Stocks (1996)Liquidity, Information, and I…Diversification's effect on firm value (1995)Diversification's effect on f…Corporate focus and stock returns (1995)Corporate focus and stock ret…Tobin's q, Corporate Diversification, and Firm Performance (1994)Tobin's q, Corporate Diversif…Measuring the Information Content of Stock Trades (1991)Measuring the Information Con…Inferring Trade Direction from Intraday Data (1991)Inferring Trade Direction fro…Diversification strategy, profit performance and the entropy measure (1985)Diversification strategy, pro…Continuous Auctions and Insider Trading (1985)Continuous Auctions and Insid…Entropy Measure of Diversification and Corporate Growth (1979)Entropy Measure of Diversific…Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Markets and Hierarchies: Anal…Does corporate diversification strategy affect stock price crash risk? (2023)Does corporate diversificatio…The Effect of Geographic Diversity on Managerial Earnings Forecasts (2022)The Effect of Geographic Dive…Does corporate diversification provide insurance against economic disruptions? (2019)Does corporate diversificatio…Organizational crisis communication on Facebook (2017)Organizational crisis communi…Impact of corporate diversification on earnings management (2017)Impact of corporate diversifi…Bank loan contracting and corporate diversification: Does organizational structure matter to lenders? (2015)Bank loan contracting and cor…Strong Financial Laws Without Strong Enforcement: Is Good Law Always Better than No Law? (2013)Strong Financial Laws Without…Antecedents and Consequences of Employee Engagement: The Case of Pakistan (2013)Antecedents and Consequences …The Effect of Organizational Complexity on Earnings Forecasting Behavior (2012)The Effect of Organizational …Corporate Diversification, Information Asymmetry and Insider Trading (2012)Corporate Diversification, In…New Dogs New Tricks: CEO Turnover, CEO-Related Factors, and Innovation Performance (2011)New Dogs New Tricks: CEO Turn…The Informational Role of Patents in Venture Capital Financing (2010)The Informational Role of Pat…Product diversification strategy and financial performance: meta-analytic evidence on causality and construct multidimensionality (2009)Product diversification strat…On the importance of timing specifications in market microstructure research (2006)On the importance of timing s…Global Diversification and Corporate Disclosure (2005)Global Diversification and Co…Internal and External Capital Markets (2002)Internal and External Capital…The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)A Survey of Corporate Governance (1997)The theory and practice of corporate finance: evidence from the field (2001)Liquidity and leverage (2008)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Higher market valuation of companies with a small board of directors (1996)Investor Protection and Corporate Valuation (2002)Digital Business Strategy: Toward a Next Generation of Insights (2013)Bid, ask and transaction prices in a specialist market with heterogeneously informed traders (1985)Asset pricing and the bid-ask spread (1986)The Components of the Bid-Ask Spread: A General Approach (1997)Liquidity and stock returns: An alternative test (1998)Market microstructure: A survey (2000)The theory and practice of econometrics (1986)One Security, Many Markets: Determining the Contributions to Price Discovery (1995)Autoregressive Conditional Duration: A New Model for Irregularly Spaced Transaction Data (1998)The Nature of the Firm (1937)Financing Constraints and Corporate Investment (1987)The Cross-Section of Expected Stock Returns (1992)Enjoying the Quiet Life? Corporate Governance and Managerial Preferences (2003)Risk, Return, and Equilibrium: Empirical Tests (1973)A cross-firm analysis of the impact of corporate governance on the East Asian financial crisis (2002)Financial and Legal Constraints to Growth: Does Firm Size Matter? (2005)Discretionary disclosure (1983)Firms, Contracts, and Financial Structure (1995)Does Distance Still Matter? The Information Revolution in Small Business Lending (2002)Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure (2002)A more complete conceptual framework for SME finance (2006)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Separation of Ownership and Control (1983)The Commitment-Trust Theory of Relationship Marketing (1994)Noise Trader Risk in Financial Markets (1990)Investor Psychology and Security Market Under‐ and Overreactions (1998)Illiquidity and stock returns: cross-section and time-series effects (2002)Commonality in liquidity (2000)Is Information Risk a Determinant of Asset Returns? (2002)Does Algorithmic Trading Improve Liquidity? (2011)
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References

  • 1976Markets and Hierarchies: Analysis and Antitrust Implications.13,381 cited
  • 1985Continuous Auctions and Insider Trading9,626 cited
  • 1991Inferring Trade Direction from Intraday Data3,150 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 1994Tobin's q, Corporate Diversification, and Firm Performance2,437 cited
  • 2002Information Production and Capital Allocation: Decentralized versus Hierarchical Firms2,426 cited
  • 1991Measuring the Information Content of Stock Trades1,868 cited
  • 1997Internal Capital Markets and the Competition for Corporate Resources1,779 cited
  • 2000The Cost of Diversity: The Diversification Discount and Inefficient Investment1,684 cited
  • 1996Liquidity, Information, and Infrequently Traded Stocks1,591 cited
  • 1985Diversification strategy, profit performance and the entropy measure1,572 cited
  • 2000The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment1,556 cited
  • 2002Explaining the Diversification Discount1,372 cited
  • 1997Agency Problems, Equity Ownership, and Corporate Diversification1,305 cited
  • 1979Entropy Measure of Diversification and Corporate Growth1,164 cited

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  • 1995Corporate focus and stock returns1,078 cited
  • Cited by

    • 2006On the importance of timing specifications in market microstructure research71 cited
    • 2005Global Diversification and Corporate Disclosure62 cited
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    • 2009Product diversification strategy and financial performance: meta-analytic evidence on causality and construct multidimensionality57 cited
    • 2013Antecedents and Consequences of Employee Engagement: The Case of Pakistan48 cited
    • 2012Corporate Diversification, Information Asymmetry and Insider Trading47 cited
    • 2015Bank loan contracting and corporate diversification: Does organizational structure matter to lenders?47 cited
    • 2012The Effect of Organizational Complexity on Earnings Forecasting Behavior42 cited
    • 2002Internal and External Capital Markets31 cited
    • 2010The Informational Role of Patents in Venture Capital Financing29 cited
    • 2013Strong Financial Laws Without Strong Enforcement: Is Good Law Always Better than No Law?28 cited
    • 2011New Dogs New Tricks: CEO Turnover, CEO-Related Factors, and Innovation Performance26 cited
    • 2023Does corporate diversification strategy affect stock price crash risk?25 cited
    • 2017Organizational crisis communication on Facebook23 cited
    • 2017Impact of corporate diversification on earnings management21 cited
    • 2022The Effect of Geographic Diversity on Managerial Earnings Forecasts20 cited