Effect of corporate diversification on firm value and performance in New Zealand
|dc.contributor.author||Bate, André J||en_NZ|
|dc.identifier.citation||Bate, A. J. (2006, February). Effect of corporate diversification on firm value and performance in New Zealand (Thesis). Retrieved from http://hdl.handle.net/10523/1365||en|
|dc.description||Material from this work is intended for publication and full text of this item will not be publicly available until permission is granted by the publisher.||en_NZ|
|dc.description.abstract||This study finds that diversified firms in New Zealand are of lower value and perform more poorly than undiversified firms, using a sample from 1993-2005. Furthermore, the lower value of diversified firms cannot be explained by their poorer performance or by agency conflicts. However, there is no evidence that supports diversified firms being of lower value or performing poorly in comparison to undiversified firms, once the endogeneity of diversification is controlled for. These findings suggest that while diversified firms are associated with lower value and poor performance, diversification itself is not the cause.||en_NZ|
|dc.title||Effect of corporate diversification on firm value and performance in New Zealand||en_NZ|
|otago.school||Finance and Quantitative Analysis||en_NZ|
|thesis.degree.discipline||Finance and Quantitative Analysis||en_NZ|
|thesis.degree.grantor||University of Otago||en_NZ|
|otago.school.eprints||Finance & Quantitative Analysis||en_NZ|
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