Spanish Listed Firms in the last period of economic crisis: The performance of corporate diversification

1. Pedro Garrido Prada
2. María Jesús Delgado
3. Desiderio Romero

Exportar

Exportar

×

MLA

modern-language-association

APA

apa

Chicago

chicago-fullnote-bibliography

Harvard

harvard-cite-them-right

Vancouver

vancouver-author-date

---

RIS BibTex

Exportar

×

El documento no se puede exportar porque pertenece a otro portal.

Texto completo

lock_openTexto completo externo

DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Notas técnicas: [continuación de Documentos de Trabajo FUNCAS]

Resumen

Based on an original sample of Spanish listed companies from non-financial sectors during 2006-2011, we show that geographic diversification offers a flexible strategy for companies in a period of economic crisis. We find a U-Shaped geographic diversification-performance relationship and we portray lack of evidence of product diversification premium unless it is combined with high levels of geographic diversification. Results are robust after controlling for the endogeneity of both types of diversification. Our findings highlight the bidirectional influences of both strategies on firm performance and the value of the joint analysis to avoid underestimate the firm level of corporate diversification.

Fuente de los datos: Dialnet