Author
Şahin, Cansu İskenderoğlu
Publication Date
2023-12
Publication Place
-
Elsevier
Subject
Diversification, Diversification discount, Product market competition, Tariff reduction
Type
Periodical
Language
English
Digital
Yes
Manuscript
No
Library
Özyeğin University
Library Asset ID
1544-6123
Record ID
ce4ce2de-1179-4539-924b-745f727fcf1b
Library Location
International Finance
Date
2023-12
Sample Text
I examine how industry concentration affects the value of diversification. I find that con- glomerates that operate mainly in concentrated industries (concentrated conglomerates) have higher diversification values. Using tariff reductions as competitive shocks, I show that concentrated conglomerates experience significant decline in their valuations and respond aggressively to threats in less-competitive industries.
DOI
10.1016/j.frl.2023.104049
Cilt
58
