Product Diversification and Profitability in German Manufacturing Firms
AbstractWe 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 InfoArticle 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)
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Product diversification; profitability; Germany;
Find related papers by JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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- 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).
- Joachim Wagner, 2013. "Exports, imports and firm survival: first evidence for manufacturing enterprises in Germany," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 149(1), pages 113-130, March.
- Joachim Wagner, 2011. "Exports, Imports and Firm Survival: First evidence for manufacturing enterprises in Germany," Working Paper Series in Economics 211, University of Lüneburg, Institute of Economics.
- 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.
- Joachim Wagner & John Philipp Weche Gelübcke, 2012. "Foreign Ownership and Firm Survival: First Evidence for Enterprises in Germany," Economie Internationale, CEPII research center, issue 132, pages 117-139.
- Wagner, Joachim & Weche Gelübcke, John Philipp, 2011. "Foreign Ownership and Firm Survival: First Evidence for Enterprises in Germany," IZA Discussion Papers 6207, Institute for the Study of Labor (IZA).
- 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.
- Joachim Wagner, 2014. "Is Export Diversification good for Profitability? First Evidence for Manufacturing Enterprises in Germany," Working Paper Series in Economics 297, University of Lüneburg, Institute of Economics.
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