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Citations for "Diversification Discount or Premium? New Evidence from the Business Information Tracking Series"

by Belén Villalonga

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  1. Goto, Mika & Makhija, Anil K., 2007. "The Impact of Competition and Corporate Structure on Productive Efficiency: The Case of the U.S. Electric Utility Industry, 1990-2004," Working Paper Series 2007-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  2. Nocke, Volker & Yeaple, Stephen R, 2012. "Globalization and Multiproduct Firms," CEPR Discussion Papers 9037, C.E.P.R. Discussion Papers.
  3. Rui J. P. de Figueiredo, Jr. & Evan Rawley, 2011. "Skill, Luck, and the Multiproduct Firm: Evidence from Hedge Funds," Management Science, INFORMS, vol. 57(11), pages 1963-1978, November.
  4. Huang, Sheng, 2014. "Managerial expertise, corporate decisions and firm value: Evidence from corporate refocusing," Journal of Financial Intermediation, Elsevier, vol. 23(3), pages 348-375.
  5. Parama Barai & Pitabas Mohanty, 2014. "Role of industry relatedness in performance of Indian acquirers—Long and short run effects," Asia Pacific Journal of Management, Springer, vol. 31(4), pages 1045-1073, December.
  6. Dmitri Boreiko & Maurizio Murgia, 2013. "European spin-offs Origin, value creation, and long-term performance," BEMPS - Bozen Economics & Management Paper Series BEMPS05, School of Economics and Management at the Free University of Bozen.
  7. Luc Laeven & Martin R. Goetz & Ross Levine, 2012. "The Valuation Effects of Geographic Diversification; Evidence From U.S. Banks," IMF Working Papers 12/50, International Monetary Fund.
  8. Lokshin, Boris & Hagedoorn, John & Letterie, Wilko, 2010. "The bumpy road of technology partnerships: Understanding causes and consequences of partnership mal-functioning," MERIT Working Papers 057, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  9. Almudena Martinez-Campillo & Roberto Fernandez-Gago, 2008. "The Diversification-Performance relationship in Spanish Firms: Does The CEO/S Behaviour Style matter?," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 57-70.
  10. Farooqi, Javeria & Harris, Oneil & Ngo, Thanh, 2014. "Corporate diversification, real activities manipulation, and firm value," Journal of Multinational Financial Management, Elsevier, vol. 27(C), pages 130-151.
  11. Chemmanur, Thomas J. & Krishnan, Karthik & Nandy, Debarshi K., 2014. "The effects of corporate spin-offs on productivity," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 72-98.
  12. Hanousek, Jan & Kocenda, Evzen & Shamshur, Anastasiya, 2015. "Corporate Efficiency in Europe," CEPR Discussion Papers 10500, C.E.P.R. Discussion Papers.
  13. Khatami, Seyed Hossein & Marchica, Maria-Teresa & Mura, Roberto, 2015. "Corporate acquisitions and financial constraints," International Review of Financial Analysis, Elsevier, vol. 40(C), pages 107-121.
  14. Pasquale Massimo Picone & Giovanni Battista Dagnino, 2016. "Revamping research on unrelated diversification strategy: perspectives, opportunities and challenges for future inquiry," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(3), pages 413-445, September.
  15. Masson, Robert & Tookes, Heather & Um, Taejong, 2009. "Firm diversification and equilibrium risk pooling: The Korean financial crisis as a natural experiment," Emerging Markets Review, Elsevier, vol. 10(1), pages 1-22, March.
  16. Choi, Young Rok & Zahra, Shaker A. & Yoshikawa, Toru & Han, Bong H., 2015. "Family ownership and R&D investment: The role of growth opportunities and business group membership," Journal of Business Research, Elsevier, vol. 68(5), pages 1053-1061.
  17. Jonathan R. Clark & Robert S. Huckman, 2012. "Broadening Focus: Spillovers, Complementarities, and Specialization in the Hospital Industry," Management Science, INFORMS, vol. 58(4), pages 708-722, April.
  18. Gao, Wenlian & Ng, Lilian & Wang, Qinghai, 2008. "Does geographic dispersion affect firm valuation?," Journal of Corporate Finance, Elsevier, vol. 14(5), pages 674-687, December.
  19. Ahn, Seoungpil & Walker, Mark D., 2007. "Corporate governance and the spinoff decision," Journal of Corporate Finance, Elsevier, vol. 13(1), pages 76-93, March.
  20. Baele, Lieven & De Jonghe, Olivier & Vander Vennet, Rudi, 2007. "Does the stock market value bank diversification?," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 1999-2023, July.
  21. Tong, Zhenxu, 2011. "Firm diversification and the value of corporate cash holdings," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 741-758, June.
  22. Manos, Ronny & Murinde, Victor & Green, Christopher J., 2012. "Dividend policy and business groups: Evidence from Indian firms," International Review of Economics & Finance, Elsevier, vol. 21(1), pages 42-56.
  23. Bernardo, Antonio E & Luo, Jiang & Wang, James J.D., 2005. "A Theory of Socialistic Internal Capital Markets," University of California at Los Angeles, Anderson Graduate School of Management qt29x1966g, Anderson Graduate School of Management, UCLA.
  24. Lopez-de-Silanes, Florencio & Phalippou, Ludovic & Gottschalg, Olivier, 2010. "Giants at the Gate: On the Cross-section of Private Equity Investment Returns," MPRA Paper 28487, University Library of Munich, Germany.
  25. Almudena Martínez-Campillo & Roberto Fernández-Gago, 2011. "Diversification strategy, CEO management style and firm performance: an application of Heckman’s two-stage method," Quality & Quantity: International Journal of Methodology, Springer, vol. 45(1), pages 59-73, January.
  26. van Lelyveld, Iman & Knot, Klaas, 2009. "Do financial conglomerates create or destroy value? Evidence for the EU," Journal of Banking & Finance, Elsevier, vol. 33(12), pages 2312-2321, December.
  27. Bae, Sung C. & Kwon, Taek Ho & Lee, Jang W., 2011. "Does corporate diversification by business groups create value? Evidence from Korean chaebols," Pacific-Basin Finance Journal, Elsevier, vol. 19(5), pages 535-553, November.
  28. Hoechle, Daniel & Schmid, Markus & Walter, Ingo & Yermack, David, 2012. "How much of the diversification discount can be explained by poor corporate governance?," Journal of Financial Economics, Elsevier, vol. 103(1), pages 41-60.
  29. Antoine Renucci, 2008. "Access to financing, rents, and organization of the firm," Post-Print halshs-00365983, HAL.
  30. 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.
  31. Anjos, Fernando, 2010. "Costly refocusing, the diversification discount, and the pervasiveness of diversified firms," Journal of Corporate Finance, Elsevier, vol. 16(3), pages 276-287, June.
  32. Jonchi Shyu & Yen-Luan Chen, 2009. "Diversification, Performance, and the Corporate Life Cycle," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 45(6), pages 57-68, November.
  33. Lin, J. Barry & Pantzalis, Christos & Park, Jung Chul, 2007. "Corporate use of derivatives and excess value of diversification," Journal of Banking & Finance, Elsevier, vol. 31(3), pages 889-913, March.
  34. Glaser, Markus & Müller, Sebastian, 2006. "Der Diversification Discount in Deutschland : existiert ein Bewertungsabschlag für diversifizierte Unternehmen?," Papers 06-13, Sonderforschungsbreich 504.
  35. Wang, Yuandi & Ning, Lutao & Chen, Jin, 2014. "Product diversification through licensing: Empirical evidence from Chinese firms," European Management Journal, Elsevier, vol. 32(4), pages 577-586.
  36. Andreou, Panayiotis C. & Louca, Christodoulos & Petrou, Andreas P., 2016. "Organizational learning and corporate diversification performance," Journal of Business Research, Elsevier, vol. 69(9), pages 3270-3284.
  37. Agarwal, Sumit & Chiu, I-Ming & Souphom, Victor & Yamashiro, Guy M., 2011. "The efficiency of internal capital markets: Evidence from the Annual Capital Expenditure Survey," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(2), pages 162-172, May.
  38. Belderbos, Rene & Gilsing, Victor & Lokshin, Boris, 2009. "Persistence of and interrelation between horizontal and vertical technology alliances," MERIT Working Papers 065, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  39. Datta, Sudip & D'Mello, Ranjan & Iskandar-Datta, Mai, 2009. "Executive compensation and internal capital market efficiency," Journal of Financial Intermediation, Elsevier, vol. 18(2), pages 242-258, April.
  40. 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.
  41. Mauer, David C. & Wang, Song & Wang, Xiao & Zhang, Yilei, 2015. "Global diversification and IPO returns," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 436-456.
  42. Sueyoshi, Toshiyuki & Goto, Mika & Shang, Jennifer, 2009. "Core business concentration vs. corporate diversification in the US electric utility industry: Synergy and deregulation effects," Energy Policy, Elsevier, vol. 37(11), pages 4583-4594, November.
  43. Guadalupe, Maria & Wulf, Julie, 2009. "The Flattening Firm and Product Market Competition," CEPR Discussion Papers 7253, C.E.P.R. Discussion Papers.
  44. Francesco Sandulli & José Fernández-Menéndez & Antonio Rodríguez-Duarte & José López-Sánchez, 2012. "The productivity payoff of information technology in multimarket SMEs," Small Business Economics, Springer, vol. 39(1), pages 99-117, July.
  45. Evan Rawley & Timothy S. Simcoe, 2010. "Diversification, Diseconomies of Scope, and Vertical Contracting: Evidence from the Taxicab Industry," Management Science, INFORMS, vol. 56(9), pages 1534-1550, September.
  46. Lopresti, John, 2016. "Multiproduct firms and product scope adjustment in trade," Journal of International Economics, Elsevier, vol. 100(C), pages 160-173.
  47. Hombert, Johan & Matray, Adrien, 2015. "Can Innovation Help U.S. Manufacturing Firms Escape Import Competition from China?," CEPR Discussion Papers 10666, C.E.P.R. Discussion Papers.
  48. Halit Gonenc & Ozgur B. Kan & Ece C. Karadagli, 2007. "Business Groups and Internal Capital Markets," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 43(2), pages 63-81, April.
  49. Laeven, Luc & Levine, Ross, 2007. "Is there a diversification discount in financial conglomerates?," Journal of Financial Economics, Elsevier, vol. 85(2), pages 331-367, August.
  50. Fukui, Yoshitaka & Ushijima, Tatsuo, 2011. "What drives the profitability of Japanese multi-business corporations? A variance components analysis," Journal of the Japanese and International Economies, Elsevier, vol. 25(2), pages 1-11, June.
  51. Lim, Sonya Seongyeon & Wang, Heli, 2007. "The effect of financial hedging on the incentives for corporate diversification: The role of stakeholder firm-specific investments," Journal of Economic Behavior & Organization, Elsevier, vol. 62(4), pages 640-656, April.
  52. James Chong & Alexandra Krystalogianni & Simon Stevenson, 2012. "Dynamic correlations between REIT sub-sectors and the implications for diversification," Applied Financial Economics, Taylor & Francis Journals, vol. 22(13), pages 1089-1109, July.
  53. Berger, Allen N. & Hasan, Iftekhar & Zhou, Mingming, 2010. "The effects of focus versus diversification on bank performance: Evidence from Chinese banks," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1417-1435, July.
  54. Geoffrey Tate & Liu Yang, 2015. "The Human Factor in Acquisitions: Cross-Industry Labor Mobility and Corporate Diversification," Working Papers 15-31, Center for Economic Studies, U.S. Census Bureau.
  55. Evan Rawley & Timothy Simcoe, 2008. "Horizontal Diversification and Vertical Contracting: Firm Scope and Asset Ownership in Taxi Fleets," Working Papers 08-10, Center for Economic Studies, U.S. Census Bureau.
  56. 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).
  57. Cremers, M. & Huang, R. & Sautner, Z., 2009. "Understanding Internal Capital Markets and Corporate Policies," Discussion Paper 2009-47 S, Tilburg University, Center for Economic Research.
  58. Filson, Darren & Olfati, Saman, 2014. "The impacts of Gramm–Leach–Bliley bank diversification on value and risk," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 209-221.
  59. Markus Glaser & Florencio Lopez-De-Silanes & Zacharias Sautner, 2013. "Opening the Black Box: Internal Capital Markets and Managerial Power," Journal of Finance, American Finance Association, vol. 68(4), pages 1577-1631, 08.
  60. Benefield, Justin D. & Anderson, Randy I. & Zumpano, Leonard V., 2009. "Performance differences in property-type diversified versus specialized real estate investment trusts (REITs)," Review of Financial Economics, Elsevier, vol. 18(2), pages 70-79, April.
  61. Aivazian, Varouj A. & Qiu, Jiaping & Rahaman, Mohammad M., 2015. "Bank loan contracting and corporate diversification: Does organizational structure matter to lenders?," Journal of Financial Intermediation, Elsevier, vol. 24(2), pages 252-282.
  62. Elif AKBEN SELCUK, 2014. "Corporate Diversification, Group Affiliation and Firm Value: Evidence From Turkey," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 8(2), pages 151-174.
  63. Nippa, Michael, 2011. "Zur Notwendigkeit des Corporate Portfolio Management: Eine Würdigung der wissenschaftlichen Forschung der letzten vier Jahrzehnte," Freiberg Working Papers 2011,02, TU Bergakademie Freiberg, Faculty of Economics and Business Administration.
  64. Adel Bino & Elisabeta Pana, 2011. "Firm value and investment policy around stock for stock mergers," Review of Quantitative Finance and Accounting, Springer, vol. 37(2), pages 207-221, August.
  65. HAMZA Taher & SGHAIER Adnène & THRAYA Mohamed Firas, 2016. "How Do Takeovers Create Synergies? Evidence From France," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 11(1), pages 54-72, April.
  66. Marinelli, Federico, 2008. "Persistence of outstanding performance and shareholder value among diversified firms: The impact of past performance, efficient internal capital market, and relatedness of business segments," IESE Research Papers D/758, IESE Business School.
  67. 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.
  68. Ma. Belén Lozano García & Alberto de Miguel Hidalgo & Diana Monserrat Ríos Rodríguez, 2013. "Responsible Diversification: Knowing Enough About Diversification To Do It Responsibly: Motives, Measures And Consequences," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(15), pages 19.
  69. Kolasinski, Adam C., 2009. "Subsidiary debt, capital structure and internal capital markets," Journal of Financial Economics, Elsevier, vol. 94(2), pages 327-343, November.
  70. Ravichandran, Archana & Bhaduri, Saumitra, 2015. "Diversification and firm performance: A study of Indian manufacturing firms," MPRA Paper 68013, University Library of Munich, Germany.
  71. Christian Espinosa & Carlos Maquieira, 2010. "Diversificación y Desempeño en Sud América: Evidencia para Chile," Working Papers 10, Facultad de Economía y Empresa, Universidad Diego Portales.
  72. Hartzell, Jay C. & Sun, Libo & Titman, Sheridan, 2014. "Institutional investors as monitors of corporate diversification decisions: Evidence from real estate investment trusts," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 61-72.
  73. Guodong (Gordon) Gao & Anandasivam Gopal & Ritu Agarwal, 2010. "Contingent Effects of Quality Signaling: Evidence from the Indian Offshore IT Services Industry," Management Science, INFORMS, vol. 56(6), pages 1012-1029, June.
  74. Sueyoshi, Toshiyuki & Goto, Mika, 2011. "Operational synergy in the US electric utility industry under an influence of deregulation policy: A linkage to financial performance and corporate value," Energy Policy, Elsevier, vol. 39(2), pages 699-713, February.
  75. Tarun Khanna & Yishay Yafeh, 2007. "Business Groups in Emerging Markets: Paragons or Parasites?," Journal of Economic Literature, American Economic Association, vol. 45(2), pages 331-372, June.
  76. Lee, Sangwoo & Park, Kwangwoo & Shin, Hyun-Han, 2009. "Disappearing internal capital markets: Evidence from diversified business groups in Korea," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 326-334, February.
  77. Renucci, Antoine, 2008. "Access to financing, rents, and organization of the firm," Journal of Corporate Finance, Elsevier, vol. 14(4), pages 337-346, September.
  78. Chen, Sheng-Syan & Chen, I-Ju, 2012. "Corporate governance and capital allocations of diversified firms," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 395-409.
  79. Larry D. Wall & Alan K. Reichert & Hsin-Yu Liang, 2008. "The final frontier : the integration of banking and commerce. Part 1, the likely outcome of eliminating the barrier," Economic Review, Federal Reserve Bank of Atlanta.
  80. Takashi Hatakeda, 2012. "R&D Investment Smoothing and Corporate Diversification," Discussion Papers 2012-42, Kobe University, Graduate School of Business Administration.
  81. Qiming Li & Wenhuan Wang & Yiping Lou & Ke Cheng & Xiaoguang Yang, 2016. "Diversification and Corporate Performance: Evidence from China’s Listed Energy Companies," Sustainability, MDPI, Open Access Journal, vol. 8(10), pages 983, September.
  82. 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.
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