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| Author: | Markides, C. |
| Title: | Diversification, restructuring and economic performance |
| Journal: | Strategic Management Journal
1995 : FEB, VOL. 16:2, p. 101-118 |
| Index terms: | DIVERSIFICATION ECONOMIC PERFORMANCE MANAGEMENT |
| Language: | eng |
| Abstract: | During the 1980s, many conglomerates and other diversified firms reduced their diversification by refocusing on their core businesses. This paper provides an economic explanation for this phenomenon and empirically tests the hypotheses from the analysis. It is shown that refocusing is associated ex post with profitability improvements. There is increasing evidence that over the past decade, many U.S. corporations have restructured. The problem is that many studies on restructuring do not define exactly what is meant by restructuring. |
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