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| Author: | Kim, W.C. Hwang, P. Burgers, W.P. |
| Title: | Multinationals' diversification and the risk/return trade-off (Risikoanalyse) |
| Journal: | Strategic Management Journal
1993 : MAY, VOL. 14:4, p. 275-286 |
| Index terms: | |
| Freeterms: | MULTINATIONALE UNTERNEHMEN, DIVERSIFIKATION, LIQUIDITÄT, UNTERNEHMENSSTRATEGIE |
| Language: | eng |
| Abstract: | This paper advances a theoretical rationale to explain Bowman's paradox (1980) that firms with high returns can have low risk. The authors argue that global market diversification can explain the high return/low risk profile. By integrating both the product and the global market dimension of diversification into their analysis, this paper sheds new light on the relationship between corporate diversification and the risk/return trade-off. The results reveal the role that global market diversification plays in the joint management of corporate risk and return. |
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