L'impatto della diversificazione sul valore contabile e di mercato delle medie e grandi imprese

Francesco Fasano, Maurizio La Rocca

Abstract


La diversificazione ha un ruolo chiave per le imprese ed è una delle principali fonti di growth opportunities, nonché un tema caldo nella letteratura di management. Il presente lavoro studia l’impatto della diversificazione sulla performance contabile e di mercato delle medie e grandi imprese italiane, osservando un effetto negativo, soprattutto quando la diversificazione è di tipo unrelated. Inoltre, le analisi empiriche mostrano che tale effetto è moderato positivamente dalla presenza di financial constrain, negativamente invece dall’età e dalla dimensione delle imprese. La ricerca fornisce importanti implicazioni per l’impresa, suggerendo ai manager di prestare particolare attenzione ai fattori interni ed esterni che possano rendere la diversificazione una strategia value-enhancing.


Parole chiave


diversificazione; valore d’impresa; performance; financial constrain

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ISSN: 1971-5293

ISSNe: 2283-3374

Esperienze d'Impresa, Reg. Tribunale Salerno n. 875 del 3/11/1993