Diversification, Relatedness, and Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Diversification, Relatedness, and Performance write by Frithjof Pils. This book was released on 2009-04-09. Diversification, Relatedness, and Performance available in PDF, EPUB and Kindle. Frithjof Pils uses multiple statistical techniques to examine the true nature of the relationships between diversification strategies and accounting-based, market-based, and growth-based performance. The author shows implications for the interpretation of past research, the design of future research including the use of meta-analysis methodologies, as well as management practice.
Corporate Diversification, Relatedness, and Performance
Corporate Diversification, Relatedness, and Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Corporate Diversification, Relatedness, and Performance write by Douglas J. Miller. This book was released on 2000. Corporate Diversification, Relatedness, and Performance available in PDF, EPUB and Kindle. Abstract: Three essays consider alternatives to agency theory explanations for the diversification discount, as discussed in the introduction (chapter one). The two empirical studies use extensive data on firm knowledge assets in the form of patents.
Real Types of Diversification Strategies – An Analysis of different Types of Relatedness in German Companies
Real Types of Diversification Strategies – An Analysis of different Types of Relatedness in German Companies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Real Types of Diversification Strategies – An Analysis of different Types of Relatedness in German Companies write by Kai Hanitsch. This book was released on 2010-03-23. Real Types of Diversification Strategies – An Analysis of different Types of Relatedness in German Companies available in PDF, EPUB and Kindle. Diplomarbeit aus dem Jahr 2008 im Fachbereich BWL - Unternehmensführung, Management, Organisation, Note: 1,7, Handelshochschule Leipzig gGmbH, Sprache: Deutsch, Abstract: On corporate level main strategic decisions involve the question which businesses are to be pursued and which to be neglected, i.e. how the portfolio of businesses is designed. The ultimate goal is a value adding business portfolio. This added value arises from synergies among the businesses and the role of the corporate center. In the case of success this would lead to a conglomerate premium in terms of company value. Corporate managers are generally very free in deciding what businesses they want to add to their portfolio and which to divest. This raises two questions: one regarding the type of businesses in a portfolio and the other regarding the optimal size of a portfolio. The term diversification deals with both questions: it describes how broad and how diverse a company‟s business portfolio is. On the one hand it can be very narrow or focused in a barely diversified company, on the other it can be very broad in a highly diversified company. Three forms of diversification strategies are commonly distinguished: focused, relational and conglomerate diversification. Many researchers in the field of strategic management have dealt with the question of diversification and the pros and cons involved. Yet there is no clear hint on superior performance of certaint diversification strategies. Rather success stories for many forms can be told. Further findings indicate: not the degree of diversification is relevant for success but the relatedness among strategic business units. Portfolios of somehow related SBUs perform better than those completely unrelated. Success is explained by the ability to transfer core competencies (“resources”) among the business units of a company. Yet relatedness is a manifold concept. Two main types have to be distinguished: relatedness on the level of products and processes and on the level of management requirements. But which type of relatedness is the most promising in terms of superior company performance? Since earlier research work is insufficient to fully explain the phenomenon of diversification further research is indicated. This especially applies to German conglomerates since most research work focused on US firms mainly. The thesis at hand constitutes one part of that proceeding research. Its aim is to gain further insights on diversification and relatedness by empirically identifying and exploring real types of relatedness and their respective diversification strategies.
Real Types of Diversification Strategies - An Analysis of different Types of Relatedness in German Companies
Real Types of Diversification Strategies - An Analysis of different Types of Relatedness in German Companies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Real Types of Diversification Strategies - An Analysis of different Types of Relatedness in German Companies write by Kai Hanitsch. This book was released on 2010. Real Types of Diversification Strategies - An Analysis of different Types of Relatedness in German Companies available in PDF, EPUB and Kindle. Diplomarbeit aus dem Jahr 2008 im Fachbereich BWL - Unternehmensführung, Management, Organisation, Note: 1,7, Handelshochschule Leipzig gGmbH, Sprache: Deutsch, Abstract: On corporate level main strategic decisions involve the question which businesses are to be pursued and which to be neglected, i.e. how the portfolio of businesses is designed. The ultimate goal is a value adding business portfolio. This added value arises from synergies among the businesses and the role of the corporate center. In the case of success this would lead to a conglomerate premium in terms of company value. Corporate managers are generally very free in deciding what businesses they want to add to their portfolio and which to divest. This raises two questions: one regarding the type of businesses in a portfolio and the other regarding the optimal size of a portfolio. The term diversification deals with both questions: it describes how broad and how diverse a company‟s business portfolio is. On the one hand it can be very narrow or focused in a barely diversified company, on the other it can be very broad in a highly diversified company. Three forms of diversification strategies are commonly distinguished: focused, relational and conglomerate diversification. Many researchers in the field of strategic management have dealt with the question of diversification and the pros and cons involved. Yet there is no clear hint on superior performance of certaint diversification strategies. Rather success stories for many forms can be told. Further findings indicate: not the degree of diversification is relevant for success but the relatedness among strategic business units. Portfolios of somehow related SBUs perform better than those completely unrelated. Success is explained by the ability to transfer core competencies ("resources") among the business units of a company. Yet relatedness is a manifold concept. Two main types have to be distinguished: relatedness on the level of products and pr
Diversification and Performance
Diversification and Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Diversification and Performance write by Ron Adner. This book was released on 2007. Diversification and Performance available in PDF, EPUB and Kindle. An extensive empirical literature in strategy and finance studies the performance implications of corporate diversification. Two core debates in the literature concern the existence of a diversification discount and the relative importance of industry relatedness and market structure for the performance of diversifiers. We address these debates by building a formal model in which the extent of diversification is endogenous and depends on the degree of industry relatedness. Firms' diversification choices affect both their own competitiveness and market structure. We find a non-monotonic effect of relatedness on performance: while greater relatedness increases the competitiveness of diversified firms, it can also spur additional diversification, thereby eroding market structure and performance. In addition, our model elucidates the emergence of heterogeneity in firm scope strategies. We use the model to generate data and show how the negative effect of relatedness on market structure can give rise to spurious inference of a diversification discount in cross-sectional regressions.
