Shi, Shuai; Wong, Siu Kei; Qiang, Will W.; Zheng, Chen - In: Papers in regional science : the journal of the … 104 (2025) 1, pp. 1-14
: horizontal, vertical, and conglomerate. Drawing on an instrumental variable analysis of 10,316M&A transactions from 2004 to 2018 … diversify into unrelated businesses have a negative impact. Furthermore, based on the network properties of M&A flows, the …