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The impact of product diversification strategy on the corporate performance of large Spanish firms

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  • Marisa Ramírez Alesón

    ()
    (Department of Business Management, University of Zaragoza, Gran Via 2, 50005 Zaragoza, Spain)

  • Manuel Espitia Escuer

    ()
    (Department of Business Management, University of Zaragoza, Gran Via 2, 50005 Zaragoza, Spain)

Abstract

We 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 Info

Article provided by Springer in its journal Spanish Economic Review.

Volume (Year): 4 (2002)
Issue (Month): 2 ()
Pages: 119-137

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Handle: RePEc:spr:specre:v:4:y:2002:i:2:p:119-137

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Related research

Keywords: Product diversification; performance; firms; Spain;

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Cited by:
  1. K. Raabe & I. Arnold & C.J.M. Kool, 2006. "Firm size and monetary policy transmission : a theoretical model on the role of capital investment expenditures," Working Papers, Utrecht School of Economics 06-14, Utrecht School of Economics.
  2. Gawlik, Remigiusz, 2009. "Strategic Decision Making in Times of Global Financial Crisis," MPRA Paper 45407, University Library of Munich, Germany.

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