DO CONGLOMERATES OPERATE MORE EFFICIENTLY THAN SINGLE-SEGMENT FIRMS?
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BSY_Mar_2019_SER_Accepted_Vers ...
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Final Accepted Manuscript
Publisher
WORLD SCIENTIFIC PUBL CO PTE LTDCitation
Bhattacharya, N., Sulaeman, J., & Yu, J. J. (2020). Do Conglomerates Operate More Efficiently than Single-Segment Firms?. The Singapore Economic Review (SER), 65(05), 1237-1270.Journal
SINGAPORE ECONOMIC REVIEWRights
Copyright © 2020 World Scientific Publishing Co Pte Ltd.Collection Information
This item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.Abstract
We investigate the impact of organizational form on operational efficiency using a large sample covering manufacturing and non-manufacturing sectors in the United States over 30 years. We quantify operational efficiency using various measures, and find robust evidence that segments of diversified firms are operationally more efficient than their single-segment industry peers. The difference is more noticeable in industries where financing needs are high due to greater growth potential and where access to external markets is constrained due to higher information asymmetry.Note
12 month embargo; published: 15 July 2020ISSN
0217-5908EISSN
1793-6837Version
Final accepted manuscriptae974a485f413a2113503eed53cd6c53
10.1142/s0217590819400046
