portfolio diversification—NPD) or engage in naïve buying diversification (NBD)—equally balancing values in same-day purchases of …

The benefits of international diversification have been recognized for decades. In spite of this, most investors hold … domestic equity market to be several hundred basis points higher than returns in other markets. This lack of diversification …

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

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

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 …

team composition, firm diversification, and IT investments--which arguably alter returns to exploiting synergies through …

Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign …

valuations. We find that there is a diversification discount: The marketvalues financial conglomerates that engage in multiple … indicate that economies of scope arenot sufficiently large to produce a diversification premium …