Diversification, restructuring and economic performance

Costas Markides

427 citations0/0 files storedStrategic Management Journal

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Corporate Finance and Governance Innovation and Knowledge Management Organizational Downsizing and Restructuring

Abstract

Abstract During the 198Os, many conglomerates and other diversified firms reduced their diversification by refocusing on their core businesses. This paper provides an economic explanation for this phenomenon and empirically tests the hypotheses that emerge from the analysis. It is shown that refocusing is associated ex post with Profitability improvements.

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References

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