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Estrategia de Diversificación y Oportunidades de crecimiento: evidencia para el mercado español

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Author Info
Miguel Hidalgo, Alberto de () (Departamento de Administración y Economía de la Empresa, Facultad de Economía y Empresa, Universidad de Salamanca)
Ríos Rodríguez, Diana M. () (Departamento de Administración y Economía de la Empresa, Facultad de Economía y Empresa, Universidad de Salamanca)
Abstract

El objetivo principal del presente trabajo es verificar si la existencia de diferencias en oportunidades de crecimiento entre las empresas diversificadas y no diversificadas influye en el impacto de la estrategia de diversificación sobre el valor de la empresa. Con un panel de de datos completo para 67 empresas españolas no financieras para el periodo comprendido entre 1986 a 2003 analizamos esta influencia. Los resultados obtenidos permiten concluir que las empresas españolas diversificadas presentan un descuento antes de controlar las oportunidades de crecimiento, sin embargo este descuento desaparece cuando tomamos en consideración estas diferencias. Los resultados son robustos a la inclusión de diferentes variables de diversificación.

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Paper provided by Interuniversitary Doctorate Program "New Trends on Business Administration", Universities of Valladolid, Burgos and Salamanca (Spain). Programa de Doctorado Interuniversitario "Nuevas Tendencias en Dirección de Empresas", Universidades de Valladolid, Burgos y Salamanca (España). in its series Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". Working Papers "New Trends on Business Administration". with number 2007-02.

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Length: 23 pages
Date of creation: Jun 2007
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Handle: RePEc:ntd:wpaper:2007-02

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Keywords: estrategia de diversificación oportunidades de crecimiento y valor de la empresa

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