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EnglishThis paper evaluates the effect of diversification strategy on corporate value for a sample of Italian companies. It accounts for both the level of diversification and relatedness components. Empirical analyses show a U-shaped curvilinear relationship between diversification and value. In contrast to the main-stream literature, our results highlight that related diversification has a negative effect, while unrelated diversification is a value-creating strategy.
| Titolo: | Multibusiness firms and performance in Italy. What role does relatedness play? |
| Autori: | |
| Data di pubblicazione: | 2018 |
| Rivista: | |
| Abstract: | This paper evaluates the effect of diversification strategy on corporate value for a sample of Italian companies. It accounts for both the level of diversification and relatedness components. Empirical analyses show a U-shaped curvilinear relationship between diversification and value. In contrast to the main-stream literature, our results highlight that related diversification has a negative effect, while unrelated diversification is a value-creating strategy. |
| Handle: | http://hdl.handle.net/11570/3147122 |
| Appare nelle tipologie: | 14.a.1 Articolo su rivista |
File in questo prodotto:
| File | Descrizione | Tipologia | Licenza | |
|---|---|---|---|---|
| 2018 - European Research on Management and Business Economics.pdf | Articolo | Versione Editoriale (PDF) |  | Open Access Visualizza/Apri |
http://hdl.handle.net/11570/3147122
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