influences their market valuations. We find that there is a diversification discount: The market …not sufficiently large to produce a diversification premium …

In this paper, we examine the proposition that both the structures of conglomerate firms and their merger activities … firm-level diversification …

in which investment tends to get equalized across divisions is particularly pronounced in a" conglomerate's smaller …

, primarily in the area of insurance, but also in the diversification of asset holdings. We suggest in this paper that, with …, and towards a focus on insurance arrangements and the diversification of risks associated with climate change …

would imply about the diversification potential across countries. For this purpose, I examine two basic groups of … group since this is the standard approach in the international diversification literature, while I study the second group … since some have argued that US-listed foreign stocks are the more natural diversification vehicle (Errunza et al (1999)). In …