The effect of within-industry diversification on firm performance: synergy creation, multi-market contact and market structuration
The effect of within-industry diversification on firm performance: synergy creation, multi-market contact and market structuration
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DOI：
10.1002/smj.418
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发表时间：
2004-12
影响因子：
1.1
通讯作者：
Stan Xiao Li;R. Greenwood
中科院分区：
文献类型：
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作者：
Stan Xiao Li;R. Greenwood
本文考察了多元化经营对产业内绩效的影响。我们认为，产业内多元化承诺三套好处，其中，单独和组合，提供企业的竞争优势：协同效应所产生的范围经济;溢价从相互宽容，使多市场竞争;和效率来自市场结构化。前两者的累加和综合效应尚未探讨。市场结构化的好处仍然没有理论化，因此也没有经过检验。我们的理论模型在加拿大一般保险业的测试表明，相互容忍提供了优势，在特定条件下，市场结构也提供了优势，但多样化本身没有。版权所有© 2004年约翰威利父子有限公司。
This paper examines the effect of diversification upon intra-industry performance. We propose that intra-industry diversification promises three sets of benefits, which, separately and in combination, provide firms with a competitive advantage: synergies arising from economies of scope; premiums from mutual forbearance enabled by multi-market competition; and efficiencies derived from market structuration. The additive and integrative effects of the first two have not been explored. The benefits of market structuration remain untheorized and thus untested. The test of our theoretical model in the Canadian general insurance industry indicates that mutual forbearance provides advantage under specified conditions, that market structuration also provides advantages, but that diversification per se does not. Copyright © 2004 John Wiley & Sons, Ltd.