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    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/75996


    Title: International diversification, product diversification, firm return and risk
    Authors: Chen, C.-J.;Yu, Chwo-Ming Joseph
    于卓民
    Contributors: 企管系
    Keywords: Firm Performance;Government regulators;International diversification;Low level;Product diversification;Related products;S-shaped;Industry
    Date: 2011
    Issue Date: 2015-06-22 14:04:24 (UTC+8)
    Abstract: Past studies focus more on exploring the effect of diversification and firm performance in the absence of risk consideration. This study chooses 698 Taiwanese listed firms to examine the relationship between a firm¡s international diversification and product diversification strategies and its financial return-risk performance separately and jointly. Our results support the S-shaped relationship between international diversification and firm return and the inverted S-shaped relationship between international diversification and risk. Moreover, contradictory to prior results, our results show a negatively relationship between a related product diversification and firm return and no significant relationship between unrelated product diversification and firm return. However, as expected, our results show a positively relationship between related product diversification and firm risk, and negatively relationship between unrelated product diversification and firm risk. Further, we find that large-sized, low level of firm leverage, high level of unrelated product diversification, and more subsidiaries in China yield high return and low risk performance on average. Finally, this paper offers suggestions to Taiwan-listed firms, government regulators, and investors.
    Relation: Academy of Management 2011 Annual Meeting - West Meets East: Enlightening. Balancing. Transcending, AOM 2011, 2011, 7p, 71st Annual Meeting of the Academy of Management - West Meets East: Enlightening, Balancing, Transcending, AOM 2011; San Antonio, TX; United States; 12 August 2011 到 16 August 2011; 代碼 88981
    Data Type: conference
    DOI link: http://dx.doi.org/10.5464.AMBPP.2011.16.a
    DOI: 10.5464.AMBPP.2011.16.a
    Appears in Collections:[Department of Business Administation] Proceedings

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