Cross-country evidence on the value of corporate industrial and international diversification

By Larry Fauver, Joel F. Houston, A. Naranjo. 2004

123 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/87561f31d244871432262846a402c2a63f5dd025

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Citations in the corpus

Business Groups in Emerging Markets: Paragons or Parasites? (2007, unknown): “In contrast with the literature in sociology, the economic and financial literature on family firms is in its infancy, 29 See also Fauver et al. (2004) for an investigation of the possible analogy between the discount at which diversified firms are traded, and the valuation of multinational firms.”
Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis (2016, unknown): “For instance, Khanna and Palepu (2000) and Fauver et al. (2004) find that 5 international differences in the value of diversification are related to the degree of development of external capital markets.”
Does Good Corporate Governance Include Employee Representation? Evidence from German Corporate Boards (2006, unknown): “In a sample of 171 publicly traded commercial and industrial firms, Franks and Mayer (2001) report that in 85% the largest shareholder owns at least 25% of the voting stock, and in 57% the largest shareholder owns over 50% (also see Becht and Böhmer (1997)).”
International corporate diversification and performance: Does firm self-selection matter? (2009, methodology): “To allow comparison, I recalculate excess value over the period from 1991 to 1995, as in Fauver et al. (2004): there is an excess value loss from diversification of 4% in the US using an international benchmark, suggesting that the differences are due to the different sample periods.28 The impact…”
The Effects of Focus versus Diversification on Bank Performance: Evidence from Chinese Banks (2010, background): “…disadvantages associated with global diversification, such as increased exchange rate and political risk and difficulties of dealing with different languages, laws and customs can also destroy shareholder’s value (e.g., Miller and Parkhe (2002), Fauver et al. (2004), Deng and Elyasiani (2007)).”