Corporate Diversification, Value Maximization, and Organizational Capabilities

By John G. Matsusaka. 2001

381 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/b118dabc88f042b6a7fd93db3cc25182226473d5

How researchers see this paper

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

In Accounting

In Economics and Econometrics

In Strategy and Management

Citations in the corpus

International Joint Ventures and the Value of Growth Options (2008, background): “Matsusaka (2001) developed a model framing the formation of uncertain new ventures as offering real options to the firm searching for growth opportunities in new industries.”
Controlling for endogeneity with instrumental variables in strategic management research (2008, background): “Such unobservables are, for instance, exceptional management or specific operating procedures (Maksimovic and Phillips, 2002; Matsusaka, 2001; see also Shaver, 1998) (for a traditional example in the econometrics literature, see Angrist and Krueger, 1991).”
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).”
International corporate diversification and performance: Does firm self-selection matter? (2009, background): “As mentioned in their paper, the literature provides several theoretical models suggesting that the diversification decision is endogenous (Fluck & Lynch, 1999; Maksimovic & Phillips, 2002; Matsusaka, 2001; Perold, 1999).”
Costs and Benefits of 'Friendly' Boards during Mergers and Acquisitions (2015, methodology): “• ∆ Income is the three-year income growth used by Morck et al. (1990). It is defined as log(I(t− 1))− log(I(t− 4)), where I(t− 1) is the sum of net income, interest, and deferred taxes for the fiscal year preceding the announcement.”
GLOBALIZATION AND MULTIPRODUCT FIRMS (2014, background): “organizational capabilities that is optimally directed towards increasing firm scope (Matsusaka, 2001; Collis and Montgomery, 2005).”
Do Effectuation Processes Shape the Relationship between Product Diversification and Performance in New Ventures? (2017, background): “For instance, the trial-and-error approach has been suggested to add dynamism to the diversification process, enabling firms to successfully diversify by reshaping existing resources (Ng, 2007) and facing the uncertainty inherent in this strategy (Matsusaka, 2001).”
Bidder Discounts and Target Premia in Takeovers (2004, neutral): “Eq’s (3) and (15) imply that ∂x0 ∂λ < 0, and ∂x0 ∂c < 0, (17)”
Financially Interlinked Business Groups (2001, neutral): “Our result on assortative matching can also be compared with a recent paper by Matsusaka (2000) that models the diversication decision of rms as a search problem by which rms seek businesses that are good matches for their capabilities.”
Heterogeneous resources and the financial crisis: implications of strategic management theory (2009, neutral): “Matsusaka (2001) argues that processes of mergers and divestments should be understood as experimental learning processes that must be undertaken exactly because it is not obvious ex ante what are the efficient combinations of assets.”
Understanding opportunity discovery and sustainable advantage: the role of transaction costs and property rights (2008, neutral): “The emphasis on experiential knowledge harmonizes with recent firm-level work on opportunity discovery (usually conceptualized as innovativeness) and its experiential antecendents (Helfat, 1997; Mosakowski, 1998; Helfat & Raubitschek, 2000; Matsusaka, 2001; Mitchell et al., 2002; Lumpkin & Lichtenst”
Optimal Diversification: Reconciling Theory and Evidence (2004, background): “Given our measures of capital, labor and output and assuming that each activity corresponds to one plant we can easily estimate (18-20).”