28. The Diversification Discount

  1. H. Kent Baker and
  2. Halil Kiymaz
  1. Seoungpil Ahn

Published Online: 29 NOV 2011

DOI: 10.1002/9781118258996.ch28

The Art of Capital Restructuring: Creating Shareholder Value through Mergers and Acquisitions

The Art of Capital Restructuring: Creating Shareholder Value through Mergers and Acquisitions

How to Cite

Baker, H. K. and Kiymaz, H. (2011) The Diversification Discount, in The Art of Capital Restructuring: Creating Shareholder Value through Mergers and Acquisitions, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118258996.ch28

Author Information

  1. Associate Professor, Sogang University

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 23 MAY 2011

ISBN Information

Print ISBN: 9780470569511

Online ISBN: 9781118258996

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Keywords:

  • internalcapital market;
  • cash flow;
  • external financing;
  • diversification decision;
  • capital budgeting

Summary

This chapter contains sections titled:

  • Introduction

  • Measuring the Effect of Diversification on Firm Value

  • Debates on the Diversification Discount

  • The Dynamic Pattern in the Diversification Discount

  • International Evidence on the Diversification Discount

  • Summary and Conclusions

  • Discussion Questions

  • About the Author