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Does Diversification Cause the 'Diversification Discount'?
16 references·16 citing·29 second hopsampled
Does Diversification Cause the 'Diversification Discount'? (2000)Does Diversification Cause the 'Diversifi…The Cost of Diversity: The Diversification Discount and Inefficient Investment (2000)The Cost of Diversity: The Di…Agency Problems, Equity Ownership, and Corporate Diversification (1997)Agency Problems, Equity Owner…The Theory of the Growth of the Firm (1995)The Theory of the Growth of t…Diversification's effect on firm value (1995)Diversification's effect on f…Tobin's q, Corporate Diversification, and Firm Performance (1994)Tobin's q, Corporate Diversif…A Simple Approximation of Tobin's q (1994)A Simple Approximation of Tob…Managerial discretion and optimal financing policies (1990)Managerial discretion and opt…Do Managerial Objectives Drive Bad Acquisitions? (1990)Do Managerial Objectives Driv…Management entrenchment (1989)Management entrenchmentAgency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…The market for corporate control (1983)The market for corporate cont…Tobin's $q$ Ratio and Industrial Organization (1981)Tobin's $q$ Ratio and Industr…Risk Reduction as a Managerial Motive for Conglomerate Mergers (1981)Risk Reduction as a Manageria…Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Markets and Hierarchies: Anal…A PURE FINANCIAL RATIONALE FOR THE CONGLOMERATE MERGER (1971)A PURE FINANCIAL RATIONALE FO…Firm boundaries matter: Evidence from conglomerates and R&D activity (2013)Firm boundaries matter: Evide…Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis (2012)Corporate Debt Maturity and t…Creditor rights and corporate risk-taking (2011)Creditor rights and corporate…Opportunity costs and non‐scale free capabilities: profit maximization, corporate scope, and profit margins (2010)Opportunity costs and non‐sca…Cash Holdings and Corporate Diversification (2010)Cash Holdings and Corporate D…The anatomy of bank diversification (2009)The anatomy of bank diversifi…Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity (2009)Does Social Performance Reall…Agency Problems at Dual‐Class Companies (2009)Agency Problems at Dual‐Class…Segment Profitability and the Proprietary and Agency Costs of Disclosure (2007)Segment Profitability and the…Technological diversity, related diversification, and firm performance (2006)Technological diversity, rela…How do family ownership, control and management affect firm value? (2005)How do family ownership, cont…Changing Names with Style: Mutual Fund Name Changes and Their Effects on Fund Flows (2005)Changing Names with Style: Mu…The Impact of SFAS No. 131 on Information and Monitoring (2003)The Impact of SFAS No. 131 on…Does Corporate Diversification Destroy Value? (2002)Does Corporate Diversificatio…Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence (2002)Do Conglomerate Firms Allocat…Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s (2001)Corporate Governance and Merg…The Pricing of Options and Corporate Liabilities (1973)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Agency Theory: An Assessment and Review (1989)Managerial incentives and risk-taking☆ (2005)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)The Modern Corporation and Private Property (1933)Agency Problems and Residual Claims (1983)A Survey of Corporate Governance (1997)Law and Finance (1998)Determinants of corporate borrowing (1977)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)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)Corporate financing and investment decisions when firms have information that investors do not have (1984)Firms, Contracts, and Financial Structure (1995)Separation of Ownership and Control (1983)Management ownership and market valuation (1988)Corporate Ownership Around the World (1999)Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills (2007)The Bind that Ties: Socioemotional Wealth Preservation in Family Firms (2011)Socioemotional Wealth in Family Firms (2012)The Commitment-Trust Theory of Relationship Marketing (1994)Corporate Governance, Board Diversity, and Firm Value (2003)Boards: Does one size fit all☆ (2007)Dynamic capabilities and strategic management (1997)Firm resources and sustained competitive advantage (2004)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1995The Theory of the Growth of the Firm13,774 cited
  • 1976Markets and Hierarchies: Analysis and Antitrust Implications.13,381 cited
  • 1985The Structure of Corporate Ownership: Causes and Consequences6,243 cited
  • 1983The market for corporate control4,145 cited
  • 1990Managerial discretion and optimal financing policies3,679 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 1981Risk Reduction as a Managerial Motive for Conglomerate Mergers2,775 cited
  • 1994A Simple Approximation of Tobin's q2,458 cited
  • 1994Tobin's q, Corporate Diversification, and Firm Performance2,437 cited
  • 1989Management entrenchment2,155 cited
  • 1990Do Managerial Objectives Drive Bad Acquisitions?1,912 cited
  • 2000The Cost of Diversity: The Diversification Discount and Inefficient Investment1,684 cited
  • 1981Tobin's $q$ Ratio and Industrial Organization1,382 cited
  • 1997Agency Problems, Equity Ownership, and Corporate Diversification1,305 cited
  • 1971A PURE FINANCIAL RATIONALE FOR THE CONGLOMERATE MERGER

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Cited by

  • 2005How do family ownership, control and management affect firm value?4,190 cited
  • 2011Creditor rights and corporate risk-taking779 cited
  • 2002Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence759 cited
  • 2002Does Corporate Diversification Destroy Value?754 cited
  • 2001Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s695 cited
  • 2013Firm boundaries matter: Evidence from conglomerates and R&D activity648 cited
  • 2010Cash Holdings and Corporate Diversification638 cited
  • 2009Agency Problems at Dual‐Class Companies610 cited
  • 2012Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis570 cited
  • 2009The anatomy of bank diversification545 cited
  • 2009Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity529 cited
  • 2006Technological diversity, related diversification, and firm performance493 cited
  • 2005Changing Names with Style: Mutual Fund Name Changes and Their Effects on Fund Flows472 cited
  • 2007Segment Profitability and the Proprietary and Agency Costs of Disclosure467 cited
  • 2010Opportunity costs and non‐scale free capabilities: profit maximization, corporate scope, and profit margins463 cited
  • 2003The Impact of SFAS No. 131 on Information and Monitoring454 cited