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Explaining the Diversification Discount

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References

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2000The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment

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1,556 cited

1988Takeovers: Their Causes and Consequences1,325 cited

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2000Does Diversification Destroy Value? Evidence from Industry Shocks96 cited
2000Diversification Discount or Premium? New Evidence from Bits Establishment-Level Data87 cited
2013Do Acquisitions Relieve Target Firms’ Financial Constraints?82 cited
1998Cross Subsidies, External Financing Constraints, and the Contribution of the Internal Capital Market to Firm Value75 cited
2013Cash holdings and business group membership74 cited
2001Were the Acquisitive Conglomerates Inefficient?72 cited
2009How Much of the Diversification Discount Can be Explained by Poor Corporate Governance?71 cited
2002Diversification, Ownership and Control of Swedish Corporations69 cited
2011Discretionary Accruals Quality, Cost of Capital, and Diversification67 cited
2004Corporate strategy revisited: a view from complexity theory63 cited