Abstract
Conglomerates, that is, firms which have diversified into industries having little in common in terms of markets, technologies, or skills, occupy only a relatively minor position among large firms in the U.S., but they dominate many other economies, particularly the developing ones in Asia. This paper describes a model which helps explain this difference in the observed pattern of corporate diversification across economies.
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The author is grateful to Gamal Atallah, participants at the Indira Gandhi Institute of Development Research, participants at the Forty-Third International Atlantic Economic Conference, October 8–11, 1998, Boston, Massachusetts, and an anonymous referee for helpful comments and suggestions. The author is responsible for all errors and omissions.
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Sinha, D.K. On the differing pattern of corporate diversification across economies. International Advances in Economic Research 6, 749–762 (2000). https://doi.org/10.1007/BF02295385
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DOI: https://doi.org/10.1007/BF02295385