Why Firms Diversify: An Empirical Examination

By D. Hyland, J. Diltz. 2002

291 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/a1bd6f2f90a4b8e834e0414d37ec5bbdf8287e68

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Citations in the corpus

Internal Capital Markets and Corporate Refocusing (2002, background): “3 The possibility that the discount causes diversif cation is explored in Matsusaka (2001), Hyland (1999), Campa and Kedia (1999), and Villalonga (1999).”
Diversification Discount or Premium? New Evidence from the Business Information Tracking Series (2004, background): “Denis, Denis, and Sarin (1997) and Hyland (1997) find that about one-fourth of all changes in firms’ number of segments in COMPUSTAT are purely reporting changes, as opposed to real instances of diversification or refocusing.”
Does Diversification Destroy Value? Evidence From Industry Shocks (2000, unknown): “Hyland (1999) examines a sample of 227 firms that increase the number of segments, 1978-1992.”
Does Corporate Diversification Destroy Value (2002, background): “Lang and Stulz (1994), Hyland (2001), and Campa and Kedia (1999) provide evidence that diversifying firms are poor performers prior to conglomeration, indicating that the act of diversifying does not necessarily cause the entire discount observed in conglomerates.”
Firm Structure and Corporate Cash Holdings (2011, unknown): “But there may be other latent and systematic differences as well (see Graham et al., 2002; Campa and Kedia, 2002; Hyland and Diltz, 2002; Villalonga, 2004) such as how a diversified firm came to be diversified (e.g., poorly performing single-segment firms were acquired to form diversified firms).”
Divisional diversity and the conglomerate discount: evidence from spinoffs (2003, background): “Such papers include Burch et al. (2001), Campa and Kedia (2001), Chevalier (1999), Graham et al. ARTICLE IN PRESS T.R. Burch, V. Nanda / Journal of Financial Economics 70 (2003) 69–9872 (2002), and Hyland (2001).”
Does Corporate International Diversification Destroy Value? Evidence from Cross-Border Mergers and Acquisitions (2008, background): “Hyland and Diltz (2002) find that diversified firms were already valued at a discount prior to diversifying.”
International corporate diversification and performance: Does firm self-selection matter? (2009, result): “Hyland and Diltz (2002) also confirm these results using a sample of diversifying acquisitions.”