This article reviews the conglomerate literature, with a focus on recent papers that have cast
strong doubt on the hypothesis that conglomerate firms destroy value on average when …

We examine the impact of government economic policy uncertainty (GEPU) on corporate
innovation and identify a cost-of-capital transmission channel. We find that GEPU increases …

Purpose–This paper aims to review the relevant literature on mergers and acquisitions in an
attempt to provide a comprehensive account of what we know about mergers and which …

Using recently available GRESB ESG public disclosure data for REITs around the world, we
examine how ESG disclosure is related to REIT debt financing and firm value. We find that …

We document a significant positive relation between drought risk and the cost of equity
capital. Our estimation shows that the cost of equity capital is 92 basis points higher for firms …

This study investigates the relation between customer concentration and a supplier׳ s cost of
equity capital. We hypothesize that a more concentrated customer base increases a …

Purpose This study examines the firm-level financial consequences caused by supply chain
disruptions during COVID-19 and explores how firms' supply chain diversification strategies …

We show that the value of corporate diversification increased during the 2007–2009
financial crisis. Diversification gave firms both financing and investment advantages. First …

This paper investigates whether firms that communicate information on social media have a
lower cost of equity capital. Using a hand-collected dataset comprising the full universe of all …

Corporate diversification has become increasingly prevalent in modern enterprises. While
previous literature has explored the effect of diversification on corporate performance, little is …