| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6224 |
| 来源ID | Working Paper 6224 |
| Both Sides of Corporate Diversification: The Value Impacts of Geographic and Industrial Diversification | |
| Gordon M. Bodnar; Charles Tang; Joseph Weintrop | |
| 发表日期 | 1997-10-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20,000 firm-year observations of U.S. corporations from 1987-1993. Our" multivariate tests indicate the average value of a firm with international operations is 2.2% higher than comparable domestic single activity firms, while the average value of a firm with activities in multiple industrial segments is 5.4% lower than a portfolio of comparable focused domestic firms in similar activities. More importantly, we demonstrate that failure to control simultaneously for both dimensions of diversification results in over-estimation of the negative value impact of industrial diversification, but has little impact on estimates of the positive value impact of geographic diversification. |
| 主题 | International Economics ; International Finance ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w6224 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563735 |
| 推荐引用方式 GB/T 7714 | Gordon M. Bodnar,Charles Tang,Joseph Weintrop. Both Sides of Corporate Diversification: The Value Impacts of Geographic and Industrial Diversification. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6224.pdf（1681KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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