Please use this identifier to cite or link to this item: https://doi.org/10.1002/smj.572
Title: Diversification and performance: Evidence from east Asian firms
Authors: Chakrabarti, A.
Singh, K. 
Mahmood, I. 
Keywords: Asia
Diversification
Economic shock
Firm performance
Institutional environment
Issue Date: 2007
Source: Chakrabarti, A., Singh, K., Mahmood, I. (2007). Diversification and performance: Evidence from east Asian firms. Strategic Management Journal 28 (2) : 101-120. ScholarBank@NUS Repository. https://doi.org/10.1002/smj.572
Abstract: We examine the impact of diversification on performance for firms operating in different institutional environments during a relatively stable period and during a major economy-wide shock. We locate our study in six Asian countries at different levels of institutional development. Results indicate that diversification negatively impacts performance in more developed institutional environments while improving performance only in the least developed environments. Even in the least developed institutional environments, diversification offers limited benefits when an economy-wide shock strikes. Though successful diversifies are sometimes affiliated with business groups, diversification is associated with poorer performance for both affiliated firms and independent firms. In sum, we find that the outcomes of diversification are influenced by institutional environments, economic stability and affiliation with business groups. Copyright © 2007 John Wiley & Sons, Ltd.
Source Title: Strategic Management Journal
URI: http://scholarbank.nus.edu.sg/handle/10635/44334
ISSN: 01432095
DOI: 10.1002/smj.572
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