The effects of focus versus diversification on bank performance: Evidence from Chinese banks

AN Berger, I Hasan, M Zhou - Journal of Banking & Finance, 2010 - Elsevier
This paper investigates the effects of focus versus diversification on bank performance using
data on Chinese banks during the 1996–2006 period. We construct a new measure …

Business groups in emerging markets: Paragons or parasites?

T Khanna, Y Yafeh - ECGI-Finance Working Paper, 2005 - papers.ssrn.com
Diversified business (or corporate) groups, consisting of legally independent firms operating
in multiple markets, are ubiquitous in emerging markets and even in some developed …

Does good corporate governance include employee representation? Evidence from German corporate boards

L Fauver, ME Fuerst - Journal of financial economics, 2006 - Elsevier
Within the German corporate governance system, employee representation on the
supervisory board is typically legally mandated. We propose that such representation of …

Does diversification create value in the presence of external financing constraints? Evidence from the 2007–2009 financial crisis

V Kuppuswamy, B Villalonga - Management Science, 2016 - pubsonline.informs.org
We show that the value of corporate diversification increased during the 2007–2009
financial crisis. Diversification gave firms both financing and investment advantages. First …

Do financial conglomerates create or destroy economic value?

MM Schmid, I Walter - Journal of Financial Intermediation, 2009 - Elsevier
This paper investigates whether functional diversification is value-enhancing or value-
destroying in the financial services sector, broadly defined. Based on a US dataset …

Innovation efficiency, global diversification, and firm value

W Gao, J Chou - Journal of Corporate Finance, 2015 - Elsevier
This paper investigates whether multinational firms are less or more efficient in innovation
activities than domestic firms. Using patents and citations scaled by R&D expenses and …

Valuation effects of global diversification

A Gande, C Schenzler, LW Senbet - Journal of International Business …, 2009 - Springer
This paper examines the effect of global diversification on firm value using a data set of US
firms from 1994 to 2002. We document that global diversification enhances firm value …

Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China

C Lin, D Su - Journal of Corporate Finance, 2008 - Elsevier
This paper investigates the relationship between industrial diversification and firm valuation
in a sample of 816 publicly listed firms in China. It contributes to the literature in three ways …

International corporate diversification and performance: Does firm self-selection matter?

P Dastidar - Journal of International Business Studies, 2009 - Springer
This paper presents new evidence on US multinational firms and shows that the decision to
diversify internationally is endogenous, and depends on firm, industry, and home-country …

Ownership identity and concentration: A study of their joint impact on corporate diversification

J Hautz, MCJ Mayer, C Stadler - British Journal of Management, 2013 - Wiley Online Library
This paper examines the impact of ownership on product and international diversification.
While ownership concentration has received considerable attention from agency theorists …