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Inefficient labor or inefficient capital? : corporate diversification and productivity around the world

Mitton, Todd - In: Journal of financial and quantitative analysis : JFQA 47 (2012) 1, pp. 1-22

Persistent link: https://www.econbiz.de/10009623149

Why do firms with diversification discounts have higher expected returns?

Mitton, Todd; Vorkink, Keith - In: Journal of financial and quantitative analysis : JFQA 45 (2010) 6, pp. 1367-1390

Persistent link: https://www.econbiz.de/10008909165

Equilibrium underdiversification and the preference for skewness

Mitton, Todd; Vorkink, Keith - In: The review of financial studies 20 (2007) 4, pp. 1255-1288

Persistent link: https://www.econbiz.de/10003554524

Inefficient Labor of Inefficient Capital? Corporate Diversification and Productivity Around the World

Mitton, Todd - 2011

I study the relation between corporate diversification and labor productivity in a sample of over 600,000 firms from 89 countries. Across the entire sample, greater diversification is associated with significantly lower labor productivity. Contrary to theories emphasizing the inefficient use of...

Persistent link: https://www.econbiz.de/10013134361