The article studies the relation between the 1997 crisis and the diversification of the 5 main business groups in … Colombia. The entropy measure of diversification did not fall during the crisis, which agrees with the risk-sharing hypothesis … of business groups. Diversification fell after the crisis but this did not lead to the disappearance of business groups …

The article studies the diversification behavior of four large diversified Colombian business groups five years before … business groups to reduce their diversification but rather to maintain it or even increase it, as they left some sectors but …

diversified firms are also the most valuable and as a consequence the value-weighted diversification “discount” is actually a … market value of the S&P 500, so among large firms, they are considered more valuable. We show that the diversification … measure there is no diversification discount …

corporate investment, saving, and diversification decisions. We find that investment dynamics are more important in explaining … cash difference while the diversification event itself reduces cash holdings by 32% …

I examine how industry concentration affects the value of diversification and explore the strategic value of agency … concentrated conglomerates have higher diversification values. Consistent with agency theories, agency problems, on average, cause … greater diversification discount. In contrast, agency problems in concentrated conglomerates create strategic advantage and …

We investigate the possibility that the diversification discount is due to differing growth opportunities between … cannot account for the diversification discount …

We document a strong decline in corporate-diversification activity since the late 1970's, and we develop a dynamic …, diversification discount, frequency and returns of diversifying mergers, and frequency of refocusing activity …