Denis, David J.; Denis, Diane K.; Sarin, Atulya - In: Journal of Applied Corporate Finance 10 (1997) 2, pp. 72-80
Because the break-up of conglomerates typically produces substantial increases in shareholder wealth, many commentators have argued that the conglomerate form of organization is inefficient. This article reports the findings of a number of recent academic studies, including the authors' own,...