ratios - following intra- and (particularly) interstate liberalization of bank branching restrictions. This effect arises … that financial development has important consequences for efficiency and specialization (or diversification) of investments …

whether to take the firm public. In this decision, the entrepreneur trades off diversification benefits of going public …

In this Paper we show that the main empirical findings about firm diversification and performance are actually … consistent with the optimal behavior of a firm that maximizes shareholder value. In our model, diversification allows a firm to … allows us to examine several aspects of the relationship between firm diversification and performance in a very general …

contracts are relatively difficult to enforce. International diversification can thus yield substantial gains, but they may …

central bank mandated that a commercial bank could open a branch in a location with one or more bank branches only if it opens … four in locations with no bank branches. We show that, between 1977 and 1990, this rule caused banks to open relatively … exploit this fact to identify the impact of opening a rural bank on poverty and output. Our estimates suggest that the Indian …

-sectional and panel data drawn from the 1989-95 Bank of Italy Survey of Household Income and Wealth. We offer an in …-depth description of the lifetime pattern of asset holdings and their composition, the degree of asset diversification, and the …