'Stick to the knitting' vs. 'the mysteriously potent charm of diversification': the Greek evidence

This paper provides evidence on the extent, nature of and factors associated with diversification using a novel set of data, referring to both firms and plants, from the Greek manufacturing sector (1992). The paper brings together a strand of hypotheses formulated, and partially tested, in the relevant literature. More specifically, we investigate the relationship between the degree of diversification and firm|industry characteristics by separately examining the behaviour of multiplant and uniplant firms. Certain patterns emerge which are then compared with those that arose in other studies. Copyright © 1999 John Wiley & Sons, Ltd.