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Product Diversification and Profitability in German Manufacturing Firms

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Author Info

  • Nils Braakmann

    ()
    (Newcastle University)

  • Joachim Wagner

    ()
    (Leuphana University Lueneburg)

Abstract

We use unique rich data for German manufacturing enterprises to investigate the product diversification – firm performance relationship.We find that an increase in the degree of product diversification has a negative impact on profitability when observed and unobserved firm characteristics are controlled for. The effects are statistically significant and large froman economic point of view. This helps to understand the fact that nearly 40 percent of all enterprises with at least 20 employees are single-product firms according to a detailed classification of products, and that multi-product enterprises with a large number of goods are a rare species.

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Bibliographic Info

Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 231 (2011)
Issue (Month): 3 (June)
Pages: 326-335

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Handle: RePEc:jns:jbstat:v:231:y:2011:i:3:p:326-335

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Related research

Keywords: Product diversification; profitability; Germany;

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Cited by:
  1. Wagner, Joachim, 2011. "Exports, Imports and Firm Survival: First Evidence for Manufacturing Enterprises in Germany," IZA Discussion Papers 5924, Institute for the Study of Labor (IZA).
  2. Joachim Wagner & John P. Weche Geluebcke, 2011. "Foreign Ownership and Firm Survival: First evidence for enterprises in Germany," Working Paper Series in Economics 221, University of Lüneburg, Institute of Economics.
  3. Wagner, Joachim, 2014. "Is Export Diversification good for Profitability? First Evidence for Manufacturing Enterprises in Germany," Working Paper Series in Economics and Institutions of Innovation 353, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.

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