The impact of product diversification strategy on the corporate performance of large Spanish firms
AbstractWe analyze the impact of product diversification on performance. This topic has been discussed in the literature, and there is no consensus so far as to the significance or the direction of the impact. Performance is measured using Tobin's q for a sample of 103 large, non-financial Spanish firms (1992-1995). Diversification is measured by means of a categorical variable, as suggested by Varadarajan. The principal results indicate that the firms with intermediate levels of product diversification have the highest performance, while the firms with low and high levels of diversification show significantly lower performance, which performance is not significantly different between them.
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Bibliographic InfoArticle provided by Springer in its journal Spanish Economic Review.
Volume (Year): 4 (2002)
Issue (Month): 2 ()
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Postal: Universidad del País Vasco; DFAE II; Avenida Lehendakari Aguirre, 83; 48015 Bilbao; Spain
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Web page: http://link.springer.de/link/service/journals/10108/index.htm
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- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
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