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Does Corporate Diversification Destroy Value?

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References

1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
1995Diversification's effect on firm value3,069 cited
2001New Evidence and Perspectives on Mergers2,803 cited
1981Risk Reduction as a Managerial Motive for Conglomerate Mergers2,775 cited
1994Tobin's q, Corporate Diversification, and Firm Performance2,437 cited
1990Do Managerial Objectives Drive Bad Acquisitions?1,912 cited
1997Agency Problems, Equity Ownership, and Corporate Diversification1,305 cited
1971A PURE FINANCIAL RATIONALE FOR THE CONGLOMERATE MERGER1,189 cited
1997Cash Flow and Investment: Evidence from Internal Capital Markets1,143 cited
1998Glamour, value and the post-acquisition performance of acquiring firms1,067 cited
1998Are Internal capital Markets Efficient?1,050 cited
1997Do Long‐Term Shareholders Benefit From Corporate Acquisitions?966 cited
1989Managerial performance, Tobin's Q, and the gains from successful tender offers964 cited
2001The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and Are There Efficiency Gains?900 cited
1996The Value of Diversification During the Conglomerate Merger Wave

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878 cited

1997Do Long-Term Shareholders Benefit From Corporate Acquisitions?875 cited

Cited by

2002Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence759 cited
2002Effects of Corporate Diversification on Productivity745 cited
2000Does Diversification Cause the 'Diversification Discount'?737 cited
2001Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s695 cited
2003Founding‐Family Ownership, Corporate Diversification, and Firm Leverage695 cited
2003Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction653 cited
2010Cash Holdings and Corporate Diversification638 cited
2008A century of corporate takeovers: What have we learned and where do we stand?592 cited
2009The anatomy of bank diversification545 cited
2015In the Horns of the Dilemma: Socioemotional Wealth, Financial Wealth, and Acquisitions in Family Firms520 cited
2006Technological diversity, related diversification, and firm performance493 cited
2002Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy475 cited
2004Corporate Finance in Europe Confronting Theory with Practice448 cited
2001Is It Inefficient Investment that Causes the Diversification Discount?432 cited
2003Corporate diversification and shareholder value: a survey of recent literature429 cited
2002Is Corporate Diversification Beneficial in Emerging Markets?422 cited