This paper investigates the impact of multiple directorships on corporate diversification. We
hypothesize that multiple directorships affect the quality of managerial oversight and, thus …

This study investigates the causality from environmental investment (as a long-term effort)
and expenditure (as a short-term effort) to financial performance in the US electric utility …

This paper examines how the onset of a financial crisis affects the operation of internal
capital markets among firms within a diversified business group. We find that active internal …

For many years, there have been debates about the benefit and cost of corporate
diversification strategy. This research provide evidence on corporate diversification and it …

With the aim of achieving an advanced understanding of current research on unrelated
diversification and providing fruitful groundwork to foster active interchange between …

Common reasons mentioned for a firm's internationalization are related to advantages for
the firm. However, if firms are conceptualized as political coalitions, this view does not seem …

Executive Overview Few major corporations are single business entities; rather, they are
organizations that target many product-market combinations. Although academia has shown …

The challenges faced by diversified corporations—firms that operate in more than one
industry or market—have changed over the years. In this new edition, Olivier Furrer helps …

This study investigates the interrelationship between bank regulatory capital and bank
diversification. We argue that regulatory capital might act as a substitutive mechanism of …

We directly test the impact of increases in global and industrial diversification on firm value
and operating performance. Our sample represents 194 US firms that acquired foreign …