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Corporate Governance and Firm Diversification
Financial Management (Financial Management Association), Spring, 2000 by Ronald C. Anderson, Thomas W. Bates, John M. Bizjak, Michael L. Lemmon
(9.) Agrawal and Knoeber (1996) also suggest that outside directors provide expertise in managing diverse lines of business.
(10.) Changes in focus often occur over a number of years, therefore we estimate only the net effect of any restructuring over the sample period.
(11.) "Berger and Ofek (1999) also find that firms which refocus have more CEO option ownership.
(12.) The sum of the coefficient on CEO ownership and the coefficient on the interaction term between CEO ownership and the multi-segment dummy, which measures the overall effect of ownership on performance in a diversified firm, is not statistically significant (p-value = 0.21)
References
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Most Popular Articles in Business
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