Publication:
International Evidence on the Value of Product and Geographic Diversity

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dc.contributor.authorLaeven, Luc
dc.date.accessioned2014-08-15T20:09:12Z
dc.date.available2014-08-15T20:09:12Z
dc.date.issued2001-12
dc.description.abstractThe author examines the effect of product and geographic diversification on firm value for a sample of 1,914 corporations in 18 countries. His results indicate that both product and geographic diversification destroy value at high levels of diversification, suggesting that agency and influence costs arising from the increased complexity outweigh the benefits of diversification at high levels. Geographic diversification is valuable at low levels, however. The author finds that insider ownership is associated with less diversification, across both product and geographic segments, suggesting that insiders view corporate diversification as value destroying.en
dc.identifierhttp://documents.worldbank.org/curated/en/2001/12/1660254/international-evidence-value-product-geographic-diversity
dc.identifier.doi10.1596/1813-9450-2729
dc.identifier.urihttps://hdl.handle.net/10986/19407
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 2729
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGENCY PROBLEMS
dc.subjectASSETS
dc.subjectCAPITAL MARKETS
dc.subjectCOMPANY
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCONGLOMERATE MERGERS
dc.subjectCONGLOMERATES
dc.subjectCORPORATE FINANCE
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE OWNERSHIP
dc.subjectCORPORATE VALUE
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectDEBT
dc.subjectDIVERSIFICATION
dc.subjectECONOMIC THEORY
dc.subjectECONOMIES OF SCOPE
dc.subjectEFFICIENCY OF CAPITAL
dc.subjectEXPECTED RETURNS
dc.subjectEXPENDITURES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFIRM SIZE
dc.subjectFIRMS
dc.subjectFOREIGN SALES
dc.subjectGLOBAL CAPITAL
dc.subjectHUMAN CAPITAL
dc.subjectMERGERS
dc.subjectPRIVATE COMPANIES
dc.subjectPROFITABILITY
dc.subjectREGRESSION ANALYSIS
dc.subjectSHAREHOLDERS
dc.subjectTHEORY OF THE FIRM
dc.subjectVALUATION
dc.titleInternational Evidence on the Value of Product and Geographic Diversityen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleInternational Evidence on the Value of Product and Geographic Diversity
okr.date.disclosure2001-12-30
okr.date.doiregistration2025-04-10T09:36:47.675899Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2001/12/1660254/international-evidence-value-product-geographic-diversity
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid424231468739466937
okr.identifier.doi10.1596/1813-9450-2729
okr.identifier.externaldocumentum000094946_02010804031948
okr.identifier.internaldocumentum1660254
okr.identifier.reportWPS2729
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/01/18/000094946_02010804031948/Rendered/PDF/multi0page.pdfen
okr.sectorBusiness Environment
okr.themeFinancial and private sector development :: Other financial and private sector development
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicPrivate Sector Development::Small and Medium Size Enterprises
okr.topicEconomic Theory and Research
okr.topicInternational Terrorism and Counterterrorism
okr.topicSmall Scale Enterprise
okr.topicFiscal and Monetary Policy
okr.topicInfrastructure Economics and Finance::Private Participation in Infrastructure
okr.unitFinancial Sector Strategy and Policy Department
okr.volume1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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