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| Author: | Matsusaka, J.G. |
| Title: | Corporate diversification, value maximization, and organizational capabilities |
| Journal: | Journal of Business
2001 : JUL, VOL. 74:3, p. 409-431 |
| Index terms: | DIVERSIFICATION |
| Freeterms: | ORGANIZATIONAL CAPABILITIES VALUE MAXIMIZATION |
| Language: | eng |
| Abstract: | This article develops a dynamic model of a firm in which diversification can be a value-maximizing strategy even if specialization is generally efficient. The central idea is that firms are composed of organizational capabilities that can be profitable in multiple businesses and that diversification is a search process by which firms seek businesses that are good matches for their capabilities. |
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