Do shareholders or stakeholders appropriate the rents from corporate diversification? The influence of ownership structure

• المؤلفون الرئيسيون: DAVID, Parthiban, O'Brien, Jonathan P., YOSHIKAWA, Toru, DELIOS, Andrew
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2010
• الموضوعات: Corporate Finance; Strategic Management Policy
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/2906; https://ink.library.smu.edu.sg/context/lkcsb_research/article/3905/viewcontent/Shareholder_rents_diversification_amj_2010_pv.pdf
• المؤسسة: Singapore Management University

Prior work on the performance consequences of corporate diversification has treated all powerful owners as seeking the same benefits from diversification (i.e, higher profit rather than growth) and therefore limiting value appropriation by other stakeholders such as employees and managers. In contra...