of credit due to moral hazard between the entrepreneur and external investors. Diversification could mitigate the moral …. In this paper we show that delegation can be the only way to exploit gains from diversification when overload costs of … diversification are high; delegation thus is the key ingredient to be able to diversify. …

of credit due to moral hazard between the entrepreneur and external investors. Diversification could mitigate the moral …. In this paper we show that delegation can be the only way to exploit gains from diversification when overload costs of … diversification are high; delegation thus is the key ingredient to be able to diversify. …

In general, conglomeration leads to diversification of risk (the diversification benefit) and a decrease in shareholder … value (the conglomerate discount). Diversification benefits in financial conglomerates are typically derived without … contribute to the literature on this topic by comparing the diversification effect in conglomerates with and without accounting …

of credit due to moral hazard between the entrepreneur and external investors. Diversification could mitigate the moral …. In this paper we show that delegation can be the only way to exploit gains from diversification when overload costs of … diversification are high; delegation thus is the key ingredient to be able to diversify. …

hazard between entrepreneurs and investors. Diversification could mitigate the moral hazard problem. However for a single … paper we show that delegation can be the only way to exploit the gains from diversification when overload costs of … diversification are high; delegation thus is the key ingredient to be able to diversify. …

A focal point in strategic and regulatory debates about the pros and cons of diversification among financial … theoretical research on the value of diversification in financial services firms, and survey the empirical research so far on the …

hand with greater company leverage and lower company diversification. These predictions find some support in the empirical …

hand with greater company leverage and lower company diversification. These predictions find some support in the empirical …

hand with greater company leverage and lower company diversification. These predictions find some support in the empirical …