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Citations for "Does diversification destroy value? Evidence from the industry shocks"

by Lamont, Owen A. & Polk, Christopher

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  1. Vojislav Maksimovic & Gordon Phillips, 2006. "The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?," NBER Working Papers 12297, National Bureau of Economic Research, Inc.
  2. Stefan Erdorf & Thomas Hartmann-Wendels & Nicolas Heinrichs & Michael Matz, 2012. "Corporate Diversification and Firm Value: A Survey of Recent Literature," Cologne Graduate School Working Paper Series 03-01, Cologne Graduate School in Management, Economics and Social Sciences.
  3. Choe, Chongwoo & Yin, Xiangkang, 2009. "Diversification discount, information rents, and internal capital markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(2), pages 178-196, May.
  4. Mitchell A. Petersen, 2009. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 435-480, January.
  5. David Hyland, 2008. "The long-run performance of diversifying firms," Journal of Economics and Finance, Springer, vol. 32(3), pages 294-310, July.
  6. GAUTIER, Axel & HAMADI, Malika, 2004. "Internal capital market efficiency of Belgian holding companies," CORE Discussion Papers 2004086, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Hund, John & Monk, Donald & Tice, Sheri, 2010. "Uncertainty about average profitability and the diversification discount," Journal of Financial Economics, Elsevier, vol. 96(3), pages 463-484, June.
  8. Ahn, Seoungpil & Denis, David J., 2004. "Internal capital markets and investment policy: evidence from corporate spinoffs," Journal of Financial Economics, Elsevier, vol. 71(3), pages 489-516, March.
  9. Berger, Allen N. & Hasan, Iftekhar & Zhou, Mingming, 2009. "The effects of focus versus diversification on bank performance: Evidence from Chinese banks," CEI Working Paper Series 2009-09, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
  10. Acharya, Viral V. & Amihud, Yakov & Litov, Lubomir, 2011. "Creditor rights and corporate risk-taking," Journal of Financial Economics, Elsevier, vol. 102(1), pages 150-166, October.
  11. Stowe, John D. & Xing, Xuejing, 2006. "Can growth opportunities explain the diversification discount?," Journal of Corporate Finance, Elsevier, vol. 12(4), pages 783-796, September.
  12. Bushman, Robert & Chen, Qi & Engel, Ellen & Smith, Abbie, 2004. "Financial accounting information, organizational complexity and corporate governance systems," Journal of Accounting and Economics, Elsevier, vol. 37(2), pages 167-201, June.
  13. Megginson, William L. & Morgan, Angela & Nail, Lance, 2004. "The determinants of positive long-term performance in strategic mergers: Corporate focus and cash," Journal of Banking & Finance, Elsevier, vol. 28(3), pages 523-552, March.
  14. Kolasinski, Adam C., 2009. "Subsidiary debt, capital structure and internal capital markets," Journal of Financial Economics, Elsevier, vol. 94(2), pages 327-343, November.
  15. Doukas, John A. & Kan, Ozgur B., 2008. "Investment decisions and internal capital markets: Evidence from acquisitions," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1484-1498, August.
  16. Ulrike Malmendier & Geoffrey Tate, 2004. "Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction," NBER Working Papers 10813, National Bureau of Economic Research, Inc.
  17. Bernardo, Antonio E. & Luo, Jiang & Wang, James J.D., 2006. "A theory of socialistic internal capital markets," Journal of Financial Economics, Elsevier, vol. 80(3), pages 485-509, June.
  18. Beneish, Messod D. & Jansen, Ivo Ph. & Lewis, Melissa F. & Stuart, Nathan V., 2008. "Diversification to mitigate expropriation in the tobacco industry," Journal of Financial Economics, Elsevier, vol. 89(1), pages 136-157, July.
  19. Francis , Bill B & Hasan , Iftekhar & Sun , Xian, 2006. "Financial market integration and the value of global diversification: evidence from US acquirers in cross-border mergers and acquisitions," Research Discussion Papers 24/2006, Bank of Finland.
  20. Jandik, Tomas & Makjija, Anil K., 2004. "Can Diversification Create Value? Evidence from the Electric Utility Industry," Working Paper Series 2005-7, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  21. Otsubo, Minoru, 2009. "Gains from equity carve-outs and subsequent events," Journal of Business Research, Elsevier, vol. 62(11), pages 1207-1213, November.
  22. Burch, Timothy R. & Nanda, Vikram, 2003. "Divisional diversity and the conglomerate discount: evidence from spinoffs," Journal of Financial Economics, Elsevier, vol. 70(1), pages 69-98, October.
  23. Glaser, Markus & Müller, Sebastian, 2006. "Der Diversification Discount in Deutschland: Existiert ein Bewertungsabschlag für diversifizierte Unternehmen?," Sonderforschungsbereich 504 Publications 06-13, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  24. Chen, Chiung-Jung & Yu, Chwo-Ming Joseph, 2012. "Managerial ownership, diversification, and firm performance: Evidence from an emerging market," International Business Review, Elsevier, vol. 21(3), pages 518-534.
  25. Grass, Gunnar, 2010. "The impact of conglomeration on the option value of equity," Journal of Banking & Finance, Elsevier, vol. 34(12), pages 3010-3024, December.
  26. Dos Santos, Marcelo B. & Errunza, Vihang R. & Miller, Darius P., 2008. "Does corporate international diversification destroy value? Evidence from cross-border mergers and acquisitions," Journal of Banking & Finance, Elsevier, vol. 32(12), pages 2716-2724, December.
  27. Gerard Hoberg & Gordon M. Phillips, 2011. "Conglomerate Industry Choice and Product Di fferentiation," NBER Working Papers 17221, National Bureau of Economic Research, Inc.
  28. Felipe Balmaceda, 2006. "Mergers and CEO power," Documentos de Trabajo 224, Centro de Economía Aplicada, Universidad de Chile.
  29. Chen, Fan & Sanger, Gary C. & Slovin, Myron B., 2013. "Asset sales in the mutual fund industry: Who gains?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4834-4849.
  30. Liu-Ching Tsai & Chaur-Shiuh Young & Hui-Wen Hsu, 2011. "Entrenched controlling shareholders and the performance consequences of corporate diversification in Taiwan," Review of Quantitative Finance and Accounting, Springer, vol. 37(1), pages 105-126, July.
  31. T. Chaney & D. Sraer & D. Thesmar, 2007. "Collateral Value and Corporate Investment: Evidence from the French Real Estate Market," Documents de Travail de la DESE - Working Papers of the DESE g2007-08, Institut National de la Statistique et des Etudes Economiques, DESE.
  32. Stefan Erdorf & Thomas Hartmann-Wendels & Nicolas Heinrichs & Michael Matz, 2013. "Corporate diversification and firm value: a survey of recent literature," Financial Markets and Portfolio Management, Springer, vol. 27(2), pages 187-215, June.
  33. Lin, Chen & Su, Dongwei, 2008. "Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 405-417, September.
  34. Chou, Ting-Kai & Cheng, Jia-Chi, 2012. "Credit ratings and excess value of diversification," Journal of Empirical Finance, Elsevier, vol. 19(2), pages 266-281.