Does corporate diversification reduce shareholder value? Since firms endogenously choose to diversify, exogenous … variation in diversification is necessary in order to draw inferences about the causal effect. We examine changes in the within … investment, are negatively related to firm value. Thus diversification destroys value, consistent with the inefficient internal …

This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20 … diversification results in over-estimation of the negative value impact of industrial diversification, but has little impact on … estimates of the positive value impact of geographic diversification …

Lifecycle theories of mergers and diversification predict that firms make acquisitions and diversify when their …

in their number, pace and concentration of technology mergers, with the potential to harm market competition. Using a …. Overall, we find that technology acquisitions do not shield GAFAM from competition, at least not from other GAFAM members or …

findings using state branching deregulation to instrument for bank competition …

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United …

reported to the nation's competition authorities. I estimate the effect of premerger notification exemptions on antitrust …