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Excess Cash Flows and Diversification Discount
11 references·4 citing·45 second hop
Excess Cash Flows and Diversification Discount (2004)Excess Cash Flows and Diversification Dis…Does Corporate Diversification Destroy Value? (2002)Does Corporate Diversificatio…Corporate Diversification: What Gets Discounted? (2002)Corporate Diversification: Wh…Explaining the Diversification Discount (2001)Explaining the Diversificatio…The Diversification Discount: Cash Flows vs. Returns (1999)The Diversification Discount:…The Cost of Diversity: The Diversification Discount and Inefficient Investment (1998)The Cost of Diversity: The Di…Cash Flow and Investment: Evidence from Internal Capital Markets (1997)Cash Flow and Investment: Evi…The Value of Diversification During the Conglomerate Merger Wave (1996)The Value of Diversification …The Method of Payment in Corporate Acquisitions, Investment Opportunities, and Management Ownership (1996)The Method of Payment in Corp…Bustup Takeovers of Value-Destroying Diversified Firms (1996)Bustup Takeovers of Value-Des…Tobin's Q, Corporate Diversification and Firm Performance (1993)Tobin's Q, Corporate Diversif…Do Managerial Objectives Drive Bad Acquisitions? (1989)Do Managerial Objectives Driv…Firm life cycle and earnings management: The moderating role of state ownership (2022)Firm life cycle and earnings …Sources of value creation and destruction in horizontal mergers and acquisitions (2019)Sources of value creation and…Firm Value Effects of Global, Regional, and Local Brand Divestments in Core and Non‐Core Businesses (2014)Firm Value Effects of Global,…Corporate Diversification, Relatedness, and Firm Value: Evidence from Korean Firms* (2008)Corporate Diversification, Re…Financing Constraints and Corporate Investment (1987)Financing Constraints and Corporate Investment (1988)Eclipse of the Public Corporation (1999)The consolidation of the financial services industry: Causes, consequences, and implications for the future (1999)Digital Business Strategy: Toward a Next Generation of Insights (2013)Do ESG Controversies Matter for Firm Value? Evidence from International Data (2016)Determinants of corporate borrowing (1977)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Executive stock ownership and performance tracking faint traces (1997)The price of corporate liquidity: Acquisition discounts for unlisted targets (2006)Are Overconfident CEOs Born or Made? Evidence of Self-Attribution Bias from Frequent Acquirers (2008)Specification Tests in Econometrics (1978)Financial Accounting Information, Organizational Complexity and Corporate Governance Systems (2000)Agency, Information and Corporate Investment (2001)Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2008–2009 Financial Crisis (2010)The Nature of the Firm (1937)Risk, Return, and Equilibrium: Empirical Tests (1973)Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms (2000)Model Uncertainty, Limited Market Participation, and Asset Prices (2005)Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios (2005)Agency costs of free cash flow, corporate finance, and takeovers (1996)Curvilinearity in the diversification-performance linkage: an examination of over three decades of research (2000)Agency costs, ownership structure and corporate governance mechanisms (2003)Overconfidence and Speculative Bubbles (2003)The Theory of Capital Structure (1991)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Don't Put All Your Eggs in One Basket? Diversification and Specialization in Lending (1999)Corporate Diversification, Value Maximization, and Organizational Capabilities (2001)Securities Analysts and Incumbent Response to Radical Technological Change: Evidence from Digital Photography and Internet Telephony (2009)Diversification's effect on firm value (1995)Does Diversification Cause the 'Diversification Discount'? (2000)New Evidence and Perspectives on Mergers (2001)Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence (2002)Effects of Corporate Diversification on Productivity (2002)The Pricing of Options and Corporate Liabilities (1973)Founding‐Family Ownership, Corporate Diversification, and Firm Leverage (2003)Technological diversity, related diversification, and firm performance (2006)Do Long-Term Investors Improve Corporate Decision Making? (2014)Internalization (1992)Globalization of Financial Institutions: Evidence from Cross-Border Banking Performance (2000)Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements* (2006)Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy (2002)New Evidence on the Lending Channel (2006)The anatomy of bank diversification (2009)
this work references cited by second hop

References

  • 1996The Value of Diversification During the Conglomerate Merger Wave878 cited
  • 2002Does Corporate Diversification Destroy Value?754 cited
  • 1996The Method of Payment in Corporate Acquisitions, Investment Opportunities, and Management Ownership654 cited
  • 1993Tobin's Q, Corporate Diversification and Firm Performance644 cited
  • 1998The Cost of Diversity: The Diversification Discount and Inefficient Investment409 cited
  • 2002Corporate Diversification: What Gets Discounted?383 cited
  • 1997Cash Flow and Investment: Evidence from Internal Capital Markets373 cited
  • 1989Do Managerial Objectives Drive Bad Acquisitions?270 cited
  • 1996Bustup Takeovers of Value-Destroying Diversified Firms230 cited
  • 2001Explaining the Diversification Discount161 cited
  • 1999The Diversification Discount: Cash Flows vs. Returns53 cited

Cited by

  • 2022Firm life cycle and earnings management: The moderating role of state ownership27 cited
  • 2014Firm Value Effects of Global, Regional, and Local Brand Divestments in Core and Non‐Core Businesses21 cited
  • 2019Sources of value creation and destruction in horizontal mergers and acquisitions18 cited
  • 2008Corporate Diversification, Relatedness, and Firm Value: Evidence from Korean Firms*

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16 cited