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Corporate diversification, performance, and restructuring in the largest Japanese manufacturers

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  • Fukui, Yoshitaka
  • Ushijima, Tatsuo

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Bibliographic Info

Article provided by Elsevier in its journal Journal of the Japanese and International Economies.

Volume (Year): 21 (2007)
Issue (Month): 3 (September)
Pages: 303-323

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Handle: RePEc:eee:jjieco:v:21:y:2007:i:3:p:303-323

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Web page: http://www.elsevier.com/locate/inca/622903

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References

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  1. Lindenberg, Eric B & Ross, Stephen A, 1981. "Tobin's q Ratio and Industrial Organization," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 54(1), pages 1-32, January.
  2. Mitchell, Mark L & Lehn, Kenneth, 1990. "Do Bad Bidders Become Good Targets?," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(2), pages 372-98, April.
  3. Wernerfelt, Birger & Montgomery, Cynthia A, 1988. "Tobin's q and the Importance of Focus in Firm Performance," American Economic Review, American Economic Association, American Economic Association, vol. 78(1), pages 246-50, March.
  4. Shleifer, Andrei & Vishny, Robert W., 1991. "Takeovers in the '60s and the '80s: Evidence and Implications," Scholarly Articles 10498058, Harvard University Department of Economics.
  5. Berger, Philip G. & Ofek, Eli, 1995. "Diversification's effect on firm value," Journal of Financial Economics, Elsevier, Elsevier, vol. 37(1), pages 39-65, January.
  6. Lang, Larry H P & Stulz, Rene M, 1994. "Tobin's q, Corporate Diversification, and Firm Performance," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 102(6), pages 1248-80, December.
  7. Mark L. Mitchell & Kenneth Lehn, 1990. "Do Bad Bidders Become Good Targets?," Journal of Applied Corporate Finance, Morgan Stanley, Morgan Stanley, vol. 3(2), pages 60-69.
  8. Campa, Jose M. & Kedia, Simi, 2000. "Explaining the diversification discount," IESE Research Papers, IESE Business School D/424, IESE Business School.
  9. Rotemberg, Julio J & Saloner, Garth, 1994. "Benefits of Narrow Business Strategies," American Economic Review, American Economic Association, American Economic Association, vol. 84(5), pages 1330-49, December.
  10. Fan, Joseph P H & Lang, Larry H P, 2000. "The Measurement of Relatedness: An Application to Corporate Diversification," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 73(4), pages 629-60, October.
  11. Lemelin, Andre, 1982. "Relatedness in the Patterns of Interindustry Diversification," The Review of Economics and Statistics, MIT Press, MIT Press, vol. 64(4), pages 646-57, November.
  12. Teece, David J. & Rumelt, Richard & Dosi, Giovanni & Winter, Sidney, 1994. "Understanding corporate coherence : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 23(1), pages 1-30, January.
  13. Karl Lins & Henri Servaes, 1999. "International Evidence on the Value of Corporate Diversification," Journal of Finance, American Finance Association, American Finance Association, vol. 54(6), pages 2215-2239, December.
  14. John, Kose & Lang, Larry H P & Netter, Jeffry, 1992. " The Voluntary Restructuring of Large Firms in Response to Performance Decline," Journal of Finance, American Finance Association, American Finance Association, vol. 47(3), pages 891-917, July.
  15. Villalonga, Belen, 2004. "Intangible resources, Tobin's q, and sustainability of performance differences," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 54(2), pages 205-230, June.
  16. Martin, John D. & Sayrak, Akin, 2003. "Corporate diversification and shareholder value: a survey of recent literature," Journal of Corporate Finance, Elsevier, Elsevier, vol. 9(1), pages 37-57, January.
  17. Comment, Robert & Jarrell, Gregg A., 1995. "Corporate focus and stock returns," Journal of Financial Economics, Elsevier, Elsevier, vol. 37(1), pages 67-87, January.
  18. Claessens, Stijn & Djankov, Simeon & Fan, Joseph P. H. & Lang, Larry H. P., 2003. "When does corporate diversification matter to productivity and performance? Evidence from East Asia," Pacific-Basin Finance Journal, Elsevier, Elsevier, vol. 11(3), pages 365-392, July.
  19. Teece, David J., 1980. "Economies of scope and the scope of the enterprise," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 1(3), pages 223-247, September.
  20. Panzar, John C & Willig, Robert D, 1981. "Economies of Scope," American Economic Review, American Economic Association, American Economic Association, vol. 71(2), pages 268-72, May.
  21. Nakano, Makoto & Kubo, Naoya & Yoshimura, Yukimitsu, 2004. "Does Diversification Strategy Create or Destroy Value?," Hitotsubashi Journal of commerce and management, Hitotsubashi University, Hitotsubashi University, vol. 39(1), pages 31-43, January.
  22. Hideshi Itoh, 2003. "Corporate Restructuring in Japan Part I: Can M-Form Organization Manage Diverse Businesses?," The Japanese Economic Review, Japanese Economic Association, Japanese Economic Association, vol. 54(1), pages 49-73.
  23. Michael E. Porter & Mariko Sakakibara, 2004. "Competition in Japan," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 18(1), pages 27-50, Winter.
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Cited by:
  1. USHIJIMA Tatsuo & Ulrike SCHAEDE, 2013. "The Market for Corporate Subsidiaries in Japan: An empirical study of trades among listed firms," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 13012, Research Institute of Economy, Trade and Industry (RIETI).
  2. MORIKAWA Masayuki, 2013. "Business Restructuring of Japanese Firms: Structural changes during the "Lost Decades"," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 13083, Research Institute of Economy, Trade and Industry (RIETI).
  3. Fukui, Yoshitaka & Ushijima, Tatsuo, 2011. "What drives the profitability of Japanese multi-business corporations? A variance components analysis," Journal of the Japanese and International Economies, Elsevier, Elsevier, vol. 25(2), pages 1-11, June.
  4. repec:hit:hcfrwp:2 is not listed on IDEAS

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