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Processes of Firm Growth and Diversification : Theory and Evidence
Coad, Alex - 2013
In this short research note we investigate the role of diversification in the firm growth process. We build on Penrose … boasts a detailed and meaningful definition of diversification. Our exploratory analyses indicate that diversification, in … terms of product introductions, is preceded by employment growth. Moreover, we find support that diversification is …
Persistent link: https://www.econbiz.de/10013073645
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Multinational Firms, Internal Capital Markets, and the Value of Global Diversification
Sturgess, Jason - 2012
on whether global diversification is valuable is inconclusive. This paper uses detailed FDI data for 251 UK multinational … firms and 4,676 subsidiaries to show that multinational firms exhibit, on average, a global diversification premium compared … multinational firms' investment and global diversification have significantly increased over the past three decades …
Persistent link: https://www.econbiz.de/10013114610
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Multinational Firms, International Diversification, Value, and Governance
Sturgess, Jason - 2012
, on average, an international diversification premium of 19%. Further, the value premium is increasing in the difference …
Persistent link: https://www.econbiz.de/10013116775
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Processes of firm growth and diversification : theory and evidence
Coad, Alexander; Günther, Christina - In: Small business economics : an entrepreneurship journal 43 (2014) 4, pp. 857-871
Persistent link: https://www.econbiz.de/10010484285
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Industry Networks and the Geography of Firm Behavior
Grieser, William - 2020
We consider the role of local geographic peers in determining equilibrium firm behavior. We exploit in-transitivity in local peer-firm networks and utilize spatial econometric techniques to circumvent well-known challenges in estimating and interpreting empirical models of peer effects. We find...
Persistent link: https://www.econbiz.de/10012839388
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Shareholders, Not Politicians, Should Decide on Takeovers
Jessop, Julian - 2021
The ongoing controversy over Melrose’s purchase of engineering company GKN illustrates many common misunderstandings about how free markets can work to the benefit of all. Shareholders, not politicians, should decide how to run their businesses, including whether a new management team could do...
Persistent link: https://www.econbiz.de/10013224806
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A Theory of Digital Firm-Designed Markets : Defying Knowledge Constraints with Crowds and Marketplaces
Tajedin, Hamed; Madhok, Anoop; Keyhani, Mohammad - 2021
In this paper we investigate the ways in which new forms of organization enabled by digital technologies such as crowdsourcing and digital marketplaces are allowing firms to circumvent and defy traditional knowledge constraints. This is part of the broader question of when and why these forms of...
Persistent link: https://www.econbiz.de/10013244182
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Hierarchies and Size : A Problem of Identification
Abdel-Khalik, A. Rashad - 2014
This paper shows that logarithmic transformation of the number of employees in an organization is nothing other than an approximation of the number of levels of hierarchy in that organization. Since the log of the number of employees has been used extensively in the literature as a measure of...
Persistent link: https://www.econbiz.de/10014144717
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Testing Corporate Life Cycle Theory : A Multinomial Logistic Regression Approach
Singh, Ravinder; Gupta, CP; Chaudhary, Pankaj - 2023
Purpose: This paper tests the corporate life cycle theory in the context of an emerging market.Design/methodology/approach: We use 3179 non-financial Indian firms’ data for the period 2011-20 to validate the claim. To assess the robustness of empirical relationships, we employ multinomial...
Persistent link: https://www.econbiz.de/10014348788
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Firm cyclicality and financial frictions
Clymo, Alex; Rozsypal, Filip - 2023
Firms' sensitivities to business cycles differ by size and age. The differences are large: "young and small firms" are more cyclical than large firms, whereas "old and small" firms are closer to acyclical. A heterogeneous-firm model with heterogeneous returns to scale can replicate these...
Persistent link: https://www.econbiz.de/10014288919