Focusing the Corporate Product: Securities Analysts and De-diversification

By Ezra W. Zuckerman. 2000

532 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/bb3ae59d7f173bdecea997c37301486133d59690

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Citations in the corpus

Technology, Identity, and Inertia Through the Lens of "The Digital Photography Company" (2009, unknown): “Highly diversiﬁed ﬁrms that straddled industry categories faced pressure from Wall Street analysts to de-diversify so that their stock could be more easily understood (Zuckerman 2000).”
Foreign-based competition and corporate diversification strategy (2005, background): “…evidence of significant portfolio restructuring and increased strategic focus by U.S. firms over the past two decades (Bhagat et al., 1990; Comment and Jarrell, 1995; John and Ofek, 1995; Markides, 1992, 1995; Zuckerman, 2000), no formal empirical analysis of this presumed link has yet to be made.”
Analyzing Analyst Research: A Review of Past Coverage and Recommendations for Future Research (2018, background): “Zuckerman (2000) shows that firms de-diversify not only to give in to pressures by institutional investors but also to create a more coherent product identity in the stock market that facilitates firm valuation by analysts.”
Ownership of Corporations (2016, background): “Furthermore, the state and the investment community play a role in determining what constitutes a legitimate action (DiMaggio & Powell, 1983; Zuckerman, 2000).”
EVALUATIVE SCHEMAS AND THE ATTENTION OF CRITICS IN THE U.S. FILM INDUSTRY. (2005, background): “Zuckerman (1999, 2000), for example, finds that the classification schemas held by financial analysts shape costs of illegitimacy among organizational actors.”
Structural Incoherence and Stock Market Activity (2004, methodology): “…testing the proposed theory: if we observe that market activi- 9 In this sense, coverage mismatch was appropriate for the study of de-diversification (Zuckerman 2000), but coverage coherence should have been used for the analysis of valuation (Zuckerman 1999). ty is greater among older stocks, it…”
Strategic management of business model transformation: lessons from Nokia (2011, background): “For instance, the belief of the synergistic relatedness of the business units to each other (Stimpert and Duhaime, 1997) is a part of the industry/corporate recipe as well as the perceived legitimacy of sustaining a certain set of multiple units or a certain level of diversification (Benner, 2007; B”
Competitive Tension: The Awareness-Motivation-Capability Perspective (2007, background): “…for example, might perceived competitive tension be considered a collectively negotiated reality involving both managerial and market expectations, and if so, to what extent can such a reality explain market outcomes (Zuckerman, 1999, 2000) and patterns of rivalry among firms (Porac et al., 1995)?”
Taking Strategy Seriously (2003, background): “Their endorsement of strategies can have a substantial influence on corporate behavior, for example when Wall Street first made possible conglomerate strategies in the 1960s (Espeland & Hirsch, 1990) and then turned against them, promoting focus (Davis, Diekman, & Tinsley, 1994; Zuckerman, 2000).”
Category Stretching: Reorienting Research on Categories in Strategy, Entrepreneurship, and Organization Theory (2013, background): “Third, the complex identities of multiple category members overwhelm the monitoring capacities of critics, who respond by paying them less attention (Zuckerman, 1999, 2000) or by downgrading their ratings (Rao et al., 2005).”