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We take a broad product markets approach to examine whether pooled purchasing is a source of value creation in diversifying acquisitions. We find that our proxies for the merging firms' change in purchasing concentration are positively related to the combined wealth effect of merging firms,...
Persistent link: https://www.econbiz.de/10012974499
An extensive empirical literature in strategy and finance studies the performance implications of corporate diversification. Two core debates in the literature concern the existence of a diversification discount and the relative importance of industry relatedness and market structure for the...
Persistent link: https://www.econbiz.de/10011572308
Der mittel- und langfristige Erfolg von M&A-Aktivitäten wird ent-scheidend dadurch beeinflusst, inwieweit es gelingt, die Teile des neu entstehenden Unternehmens miteinander zu verbinden und zu einer geeigneten Organisation zusammenzufügen. Dies wird beson-ders durch das Schlagwort...
Persistent link: https://www.econbiz.de/10009005007
Der mittel- und langfristige Erfolg von M&A-Aktivitäten wird ent-scheidend dadurch beeinflusst, inwieweit es gelingt, die Teile des neu entstehenden Unternehmens miteinander zu verbinden und zu einer geeigneten Organisation zusammenzufügen. Dies wird besonders durch das Schlagwort „structure...
Persistent link: https://www.econbiz.de/10009005011
Building upon a firm-level empirical investigation we conduct a phenomenological analysis of corporate diversification patterns. We take up a more holistic, multilevel approach towards corporate diversifiaction: In our investigation we capture diversification at the output level, at the input...
Persistent link: https://www.econbiz.de/10005848295
The purpose of this study is to extend the current understanding of business divestiture by investigating its potential for triggering strategic reorientation. A divestiture involving strategic reorientation is here denoted as a strategic business exit, otherwise it is a status quopreserving...
Persistent link: https://www.econbiz.de/10005677969
This paper examines several dimensions of the relationship between diversification and performance. Specifically, we investigate the link between related and unrelated diversification and performance. We also study the effect of the potential redeployment of ‘plastic' assets on unrelated...
Persistent link: https://www.econbiz.de/10012842565
In this paper we investigate the link between corporate diversification relatedness and economic performance, through the resource plasticity channel. To investigate this, we estimate a dynamic panel on a data set of 2,396 diversified firms from the euro area over the 2010-2017 period. Our...
Persistent link: https://www.econbiz.de/10013403604
During the last few decades, the internet and digital technology have fundamentally changed the global music industry. As a consequence, new companies and novel business models have emerged. Spotify, one of the new players in the music industry, has expanded its business activities and grown to...
Persistent link: https://www.econbiz.de/10014022598
We investigate the relationship between product diversification and performance in the Dutch property-liability (P&L) insurance industry for the period 2007-2018. We employ a two-step approach: we first investigate the drivers of diversification and, as a second step, we investigate the impact...
Persistent link: https://www.econbiz.de/10014032232