This paper examines the Chandlerian model of corporate development in the light of new data on the strategies and structures of large European firms in the post-war period. Conglomerate strategies continue to spread, but these are typically less stable than strategies of related diversification....

This paper assesses economic, political and national institutional explanations for continued resistance to the multidivisional form in France, Germany and the United Kingdom during the 1980s and 1990s. It finds that the economics of different diversification strategies play a significant but...