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- Title
RESEARCH NOTES. CONSEQUENCES OF CORPORATE REFOCUSING: EX ANTE EVIDENCE.
- Authors
Markides, Constantinos C.
- Abstract
During the 1980s, many diversified firms reduced their diversification by refocusing. This study examined whether this refocusing created market value for the companies involved. It is shown that refocusing announcements are associated with significant, positive abnormal returns, which implies that firm diversification levels prior to refocusing were higher than optimal.
- Subjects
CORPORATE reorganizations; CORE competencies; BUSINESS size; INDUSTRIAL management; DIVERSIFICATION in industry; CONGLOMERATE corporations; ORGANIZATIONAL structure; DIVERSIFIED companies; FINANCIAL performance; PROFIT; MANAGEMENT
- Publication
Academy of Management Journal, 1992, Vol 35, Issue 2, p398
- ISSN
0001-4273
- Publication type
Article
- DOI
10.2307/256379