Global Diversification, Industrial Diversification, and Firm Value

By David J. Denis, Diane K. Denis, Keven Yost. 2002

1,065 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/8d3db1a4e820c96a8c09c08124f2789455c4eb8e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Mike W. Peng
2. Paul W. Beamish
3. Andrew Delios
4. J. Lu
5. K. Meyer
6. P. Dastidar
7. F. González
8. M. Goetz

In Economics and Econometrics

1. Mike W. Peng
2. Andrew Delios
3. J. Lu
4. P. Dastidar
5. Luc Laeven
6. A. Majocchi
7. Alan M. Rugman
8. Paul W. Beamish

In Finance

1. M. Goetz
2. F. González
3. Luc Laeven
4. Ross Levine
5. P. Dastidar
6. Joel F. Houston
7. Solomon A. Tadesse
8. Thorsten Beck

Citations in the corpus

• What determines the scope of the firm over time and around the world? An Asia Pacific perspective (2007, background): “Once diversification becomes a norm, many eager empire-builders may jump on the bandwagon while performance may not be satisfactory (Denis et al., 2002).”
• INTERNATIONAL DIVERSIFICATION AND FIRM PERFORMANCE: THE S-CURVE HYPOTHESIS (2004, background): “…coordination difficulties, information asymmetry, and incentive misalignment between headquarters and divisional managers in multidivisional firms can be also manifest in multinational enterprises between headquarters and subsidiary managers (Denis et al., 2002; Harris, Kriebel, & Raviv, 1982).”
• Managerial Empire Building and Firm Disclosure (2008, background): “in preferences between the board of directors (representing investors) and executives, in conjunction with lack of observability, a typical moral hazard problem (Dominguez-Martinez et al. 2006). In a widely cited article, Jensen (1986) presents a “free cash flow” theory, whereby firms with high free”
• Foreign-based competition and corporate diversification strategy (2005, background): “Finally, the growing integration of national markets arising from expanded trade has been accompanied by a rising geographic diversification of firms’ activities (Denis et al., 2002).”
• The Effect of Operational Slack, Diversification, and Vertical Relatedness on the Stock Market Reaction to Supply Chain Disruptions (2009, background): “beyond the scope of this paper and the interested reader is referred to Lang and Stulz (1994), Fan and Lang (2000), Denis et al. (2002), Goerzen and Beamish (2003), and Bowen andWiersema (2005).”
• The relationship between international diversification and firm performance: Why it remains a puzzle (2011, methodology): “These trends align with those found in earlier studies of international involvement of U.S. firms (e.g., Denis et al., 2002).”
• Is Corporate Diversification Beneficial in Emerging Markets (2002, neutral): “Denis, Denis, and Yost (2002) report a similar result.”
• Innovation Efficiency, Global Diversification, and Firm Value (2015, positive): “2 To explain why geographically diversified firms are worth less than their geographically concentrated counterparts, Denis, Denis, and Yost (2002) provide an agency problem-based explanation.”