How Capital Structure Influences Diversification Performance: A Transaction Cost Perspective

How Capital Structure Influences Diversification Performance: A Transaction Cost Perspective

Extant theories agree that debt should inhibit diversification, but predict opposing performance consequences. While agency theory predicts that debt should lead to higher performance for diversifying firms, transaction cost economics (TCE) predicts that more debt will lead to lower performance for...

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Bibliographic Details
Main Authors: O'Brien, Jonathan, DAVID, Parthiban, YOSHIKAWA, Toru, Delios, Andrew
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2013
Subjects:
Transaction cost economics
diversification
capital structure
RBV
Agency Theory
Corporate Finance
Strategic Management Policy
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/4594
https://ink.library.smu.edu.sg/context/lkcsb_research/article/5593/viewcontent/How_Capital_Structure_Influences_Diversification_Performance__A_T.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/lkcsb_research/4594
https://ink.library.smu.edu.sg/context/lkcsb_research/article/5593/viewcontent/How_Capital_Structure_Influences_Diversification_Performance__A_T.pdf

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