haku: @author Chen, C. / yhteensä: 12
viite: 5 / 12
| Tekijä: | Chen, C. Steiner, T. |
| Otsikko: | An agency analysis of firm diversification: the consequences of discretionary cash and managerial risk considerations |
| Lehti: | Review of Quantitative Finance and Accounting
2000 : MAY, VOL. 14:3, p. 247-261 |
| Asiasana: | ACCOUNTING AGENCIES RISK |
| Kieli: | eng |
| Tiivistelmä: | Firm diversification is shown to be a function of excess discretionary cash flow and managerial risk conssiderations. The authors measure firm diversification using the concentric diversification index. The index is positively related to both the number of business units in the firm, and the extent to which the business firm's segments differ. Consequently, the measure provides a proxy for how firm diversification decisions impact the risk of the firm. |
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