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dc.contributor.authorBate, André Jen_NZ
dc.identifier.citationBate, A. J. (2006, February). Effect of corporate diversification on firm value and performance in New Zealand (Thesis). Retrieved from
dc.descriptionMaterial 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.abstractThis 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.subjectcorporate diversificationen_NZ
dc.subjectfirm valueen_NZ
dc.subjectfirm performanceen_NZ
dc.subjectdiversification discounten_NZ
dc.subjectNew Zealanden_NZ
dc.subjectfixed effectsen_NZ
dc.subjectexcess valueen_NZ
dc.subject.lcshHG Financeen_NZ
dc.titleEffect of corporate diversification on firm value and performance in New Zealanden_NZ
otago.schoolFinance and Quantitative Analysisen_NZ and Quantitative Analysisen_NZ of Otagoen_NZ Thesesen_NZ
otago.openaccessAbstract Only
dc.identifier.eprints344en_NZ & Quantitative Analysisen_NZ
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