Does diversification destroy value? Evidence from industry shocks

DMCA

Does diversification destroy value? Evidence from industry shocks (2000)

Cached

Download Links

by Owen A. Lamont , Christopher Polk

Citations:

68 - 0 self

Citations

639	Diversification's Effect on Firm Value - Berger, Ofek - 1995
498	Tobin's q, Corporate Diversification, and Firm Performance - Lang, Stulz - 1994
417	Regression standard errors in clustered samples, - Rogers - 1993
400	capital markets and the competition for corporate resources. - Stein - 1997
332	Cash Flow and Investment: Evidence from Internal Capital Markets, - Lamont - 1997
330	The dark side of internal capital markets: Divisional rent‐seeking and inefficient investment - Scharfstein, Stein - 2000
306	The cost of diversity: The diversification discount and inefficient investment - Rajan, Cervaes, et al. - 2000
273	Do managerial objectives drive bad acquisitions - Morck - 1990
262	Corporate Focus and Stock Returns”. - Comment, Jarrell - 1995
203	The Value of Diversification During the Conglomerate Merger Wave - Servaes - 1996
190	Do Conglomerate Firms Allocate Resources Inefficiently Across Industries - Maksimovic, Phillips - 2002
188	Agency Problems, Equity Ownership, and Corporate Diversification - J, Denis, et al. - 1997
174	Asset Sales and Increase in Focus", - John, Ofek - 1995
167	A pure financial rationale for the conglomerate merger. - Lewellen - 1971
159	Are internal capital markets efficient? Quarterly - Shin, Stulz - 1998
158	The Success of Acquisitions: Evidence from Divestitures‟, - Kaplan, Weisbach - 1992
152	What do firms do with cash windfalls?’, - Blanchard, Silanes, et al. - 1994
117	Leverage, investment, and firm growth. - Lang, Ofek, et al. - 1996
83	Is It Inefficient Investment That Causes the Diversification Discount - Whited
67	Corporate Focus and Value Creation: Evidence from Spin-offs.” - Daley, Mehrotra, et al. - 1997
65	Bustup takeover of value-destroying diversified firms, - Berger, Ofek - 1996
63	Lynch.(1999).Why Do Firms Merge and Then Divest? A Theory of Financial Synergy, - Fluck, W - 2015
62	A Reexamination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View. - Hubbard, Palia - 1999
50	Wealth creation versus wealth redistributions in pure stock-for-stock mergers - Maquieira, Megginson, et al. - 1998
45	Learning about internal capital markets from corporate spin-offs. - Gertner, Powers, et al. - 2002
41	Why do firms undertake diversifying mergers? An examination of the investment policies of merging firms, Yale School of Management working paper. - Chevalier - 2000
26	Synergies and internal agency conflicts: The doubleedged sword of mergers, - Fulghieri, Hodrick - 2003
16	Why firms diversify: An empirical examination, Working paper - Hyland - 1999
13	The diversification discount: cash flows vs returns - Lamont, Polk - 2001
12	Leverage and Internal Capital Markets: Evidence from Leveraged Recapitalizations - Peyer, Shivdasani - 2001
11	Why firms diversify, An empirical examination, unpublished doctoral dissertation - Hyland - 1997
10	Causes and consequences of corporate refocusing programs, - Berger, Ofek - 1998
7	Corporate Governance and the Diversification Discount: Evidence from Panel Data, Unpublished manuscript - Palia - 1999
7	The dark side of internal capital markets II. NBER Working Paper No. 6352 - Scharfstein - 1998
5	Corporate focusing and internal capital markets. NBER working paper 7175 - Schlingemann, Stulz, et al. - 1999
3	Explaining the diversification discount, NYU working paper - Campa, Kedia - 1999
3	Explaining the diversification discount. Unpublished working paper - Campa, Kedia - 1999
3	Effects of corporate diversification on productivity, Unpublished working paper - Schoar - 2000
1	What do firms do with cash windfalls?Journal of Financial - Blanchard, Lopez-de-Silanes, et al. - 1994
1	Why do firms merge and then divest?A theory of financial synergy - Fluck, Lynch - 1999
1	Does corporate diversification destroy value?Unpublished working paper - Graham, Lemmon, et al. - 1999
1	Are internal capital markets efficient?Quarterly - Shin, Stulz - 1998