The DOI matches its Crossref record.
Corporate Diversification
Abstract
This paper documents the significant presence of diversified firms in the U.S. economy and presents three views on why firms diversify. The market power view argues that firms diversify to wield conglomerate power across markets. The agency view argues that diversification is undertaken by managers pursuing their own interests at the expense of the firm's owners. The resource view argues that firms diversify in response to excess capacity in productive factors. A review of recent empirical research finds little support for the market-power view and a substantial amount of evidence that is consistent with the agency and resource views.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cited by
Towards a theory of the technology-based firm
Granstrand, O. (1998) · Research Policy · doi:10.1016/s0048-7333(98)00067-5 · Cited by 418
Information Technology and Firm Boundaries: Evidence from Panel Data
Hitt, L. M. (1999) · Information Systems Research · doi:10.1287/isre.10.2.134 · Cited by 341
Foreign direct investment, diversification and firm performance
Doukas, J. A., & Lang, L. H. P. (2003) · Journal of International Business Studies · doi:10.1057/palgrave.jibs.8400014 · Cited by 225
Metadata
- Authors
- Montgomery, C. A.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 1994-08-01
- Volume
- 8
- Issue
- 3
- Pages
- 163-178
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W4256264638
- Cited by
- 582
- References
- 0
- FWCI
- 32.93
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
