How to cite this paper
Ojo, O. (2011). An Appraisal of the practice of corporate diversification in selected Nigerian banks.Management Science Letters , 1(3), 295-306.
Refrences
Acharya, V., Hasan, I. & Saunders, A. (2006). Should Banks be Diversified? Evidence from Individual Bank Loan Portfolios. Journal of Business 79(3), 1355—1413.Amit, R. & Livnat, J. (1988). Diversification and the Risk-Return Trade-off. Academy of Management Journal, 31, 154–166.
Ansoff, H. I. (1965). Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion., New York: McGraw-Hill.
Barrney, J. B. (1991). Firm resources and sustainable competitive advantage. Journal of Management, 17(1), 99-120.
Berger, P. G. & Ofek, E. (1995). Diversification’s effect on firm value. Journal of Financial Economics, 37, 39–65.
Berger, A. & DeYoung, R. (2001). The effects of geographic expansion on bank efficiency. Journal of Financial Services Research 19(2/3), 163-185.
Berry, C.H. (1975). Corporate growth and diversification. Princeton: Princeton University Press.
Caves, R. E. (1981). Diversification and seller concentration: Evidence from Change 1963-1972. Review of Economics and Statistics, 63, 289–293.
Chang,Y & Thomas, H. (1989). The impact of diversification strategy on risk return performance. Strategic Management Journal 10(3), 271-284.
Dahl, D., & Logan, L. (2003). Granularity and International Diversification: An Empirical Analysis of Overdue Claims at Bank. Mimeo, Bank of England.Denis, D. J., Denis, D. K., & Sarin, A. (1997). Agency problems, equity ownership, and corporate diversification. Journal of Finance, 52, 135-160.
Grant, R. M. (1998). Contemporary Strategy Analysis. Oxford: Blackwell.
Gort, M. (1962). Diversification and integration in American industry. Princeton: Princeton University Press.
Gribbin, J. (1976). The Conglomerate Merger. Applied Economics, 8.
Hayden, E., Porath, D. & Westernhagen, N. (2006). Does diversification improve the performance of German banks? evidence from individual bank loan portfolios. Banking and Financial Studies, 5(2), Deutsche Bundesbank.
Hill, C. W. L. (1985). Diversified growth and competition: The experience of twelve large UK firms. Applied Economics 17, 827-847.
Hitt, M., Ireland, R. & Hoskisson, R. (2001). Strategic management: competitiveness and globalisation, Cincinnati: South-Western College Publishing.
Hoskisson, R. E., & Hitt, M. A. (1990). Antecedents and performance outcomes of diversification: review and critique of theoretical perspectives. Journal of Management 16, 461–509.
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. American Economic Review , 76, 323–329.
Jiraporn, P., Kim, Y., Davidson, W. & Singh, M. (2006). Corporate Governance, Shareholder rights and firm diversification: An empirical analysis. Journal of Banking & Finance, 30, 947-963.
Jung, J. (2003). The bigger, the better? Measuring the financial health of media firms. The International Journal on Media Management, 5(4), 237-250.
Lewellen, W. (1971). A pure financial rationale for the conglomerate merger. Journal of Finance 26, 521-537.
Lubatkin, M., & Rogers, R. C. (1989). The impact of diversification strategy on risk return performance. Strategic Management Journal, 10, 271-284.
Lubatkin, M. H., & Chatterjee, S. (1994). Extending modern portfolio the domain of corporate diversification: does it apply? Academy of Management Journal, 37, 109–136.
Majd, S., & Meyers, S. (1987). Tax asymmetries and corporate income tax reform. Effects of Taxation on Capital Accumulation. Ed. M. Fedstein. Chicago: University of Chicago Press.
Markides, C. C. (1992). Consequences of corporate refocusing: Ex ante Evidence. Academy of Management Journal, 35, 398-412.
Markides, C. C., & Williamson, P. J. (1994). Related diversification, core competencies and corporate performance. Strategic Management Journal, 15, 149–165.
Meyer, M., Milgrom, P. & Roberts, J. (1992). Organizational prospects, influence costs and ownership changes. Journal of Economics and Management Strategy, 1, 9-35.
Michel, A., & Shaked, I. (1984). Does business diversification affect performance? Financial Management, 13(4), 18-25.
Montgonmery, C. A. (1994). Corporate diversification. Journal of Economic Perspectives, 8, 163-178.
Mueller, D. (1972). A life cycle theory of the firm. Journal of Industrial Economics, 20, 199.Nathanson, D. A., & Cassano, J. S. (1982). Organization, Diversity, and Performance. Wharton Magazine 6, 19–26.
Ojo, O. (2003). Fundamentals of Research Methods. Lagos: Standard Publications.
Palich, L., Cardinal, L. & Miller, C. (2000). Curvilinearity in the diversification-performance linkage: An examination of over three decades of research. Strategic Management Journal, 21, 155-174.
Penrose, E. (1995). The Theory of the Growth of the Firm. Oxford: Oxford University Press.
Rajan, R., Servaes, H. & Zingales, L. (2000). The cost of diversity: diversification discount and inefficient investment. Journal of Finance, 55, 35-80.
Ramanujam, V., & Varadarajan, P. (1989). research on corporate diversification: A synthesis. Strategic Management Journal, 10(6), 523–551.
Reed, R., & Luffman, G. A. (1986). Diversification: the growing confusion. Strategic Management Journal, 7, 29-35.
Rumelt, R. P. (1974). Strategy, structure, and economic performance. Cambridge: Harvard University Press.
Rumelt, R. P. (1982). Diversification strategy and profitability. Strategic Management Journal 3(4), 359–369.
Salter, M. S., & Weinhold, W. S. (1979). Diversification through acquisition. New York: The Free Press.
Sambharya, R. B. (2000). Assessing the construct validity of strategic and SIC-based measures of corporate diversification. British Journal of Management 11, 163-173.
Santalo, J. & Becerra, M. (2006). The dominance of diversified versus specialized firms across industries, Journal of Business Research, 59: 335-340.
Santalo, J., & Becerra, M. (2004). The effect of diversification on performance revisited: diversification discount, premium, or both? Institutode de Empresa, Working Paper, Madrid.Schleifer, A. & Vishny, R. W. (1991). Takeovers in the ‘60s and the ‘80s: evidence and implications, Strategic Management Journal, 12: 51-59.
Schleifer, A., & Vishny, R. W. (1989). Management Entrenchment: The case of manager-specific investments. Journal of Financial Economics, 25, 123.Servaes, H. (1996). The value of diversification during the conglomerate merger wave. Journal of Finance, 51, 1201–1225.
St. John C. H., & Harrison, J. S. (1999). Manufacturing-based relatedness, synergy, and coordination. Strategic Management Journal, 20, 129-145.
Stiroh, K., & Rumble, A. (2003). The dark side of diversification for U. S. bank holding companies. Unpublished Paper, Federal Reserve Bank of New York.Williamson, O. (1967). Hierarchical control and optimum firm size. Journal of Political Economy 75, 123-138.
Ansoff, H. I. (1965). Corporate Strategy: An Analytic Approach to Business Policy for Growth and Expansion., New York: McGraw-Hill.
Barrney, J. B. (1991). Firm resources and sustainable competitive advantage. Journal of Management, 17(1), 99-120.
Berger, P. G. & Ofek, E. (1995). Diversification’s effect on firm value. Journal of Financial Economics, 37, 39–65.
Berger, A. & DeYoung, R. (2001). The effects of geographic expansion on bank efficiency. Journal of Financial Services Research 19(2/3), 163-185.
Berry, C.H. (1975). Corporate growth and diversification. Princeton: Princeton University Press.
Caves, R. E. (1981). Diversification and seller concentration: Evidence from Change 1963-1972. Review of Economics and Statistics, 63, 289–293.
Chang,Y & Thomas, H. (1989). The impact of diversification strategy on risk return performance. Strategic Management Journal 10(3), 271-284.
Dahl, D., & Logan, L. (2003). Granularity and International Diversification: An Empirical Analysis of Overdue Claims at Bank. Mimeo, Bank of England.Denis, D. J., Denis, D. K., & Sarin, A. (1997). Agency problems, equity ownership, and corporate diversification. Journal of Finance, 52, 135-160.
Grant, R. M. (1998). Contemporary Strategy Analysis. Oxford: Blackwell.
Gort, M. (1962). Diversification and integration in American industry. Princeton: Princeton University Press.
Gribbin, J. (1976). The Conglomerate Merger. Applied Economics, 8.
Hayden, E., Porath, D. & Westernhagen, N. (2006). Does diversification improve the performance of German banks? evidence from individual bank loan portfolios. Banking and Financial Studies, 5(2), Deutsche Bundesbank.
Hill, C. W. L. (1985). Diversified growth and competition: The experience of twelve large UK firms. Applied Economics 17, 827-847.
Hitt, M., Ireland, R. & Hoskisson, R. (2001). Strategic management: competitiveness and globalisation, Cincinnati: South-Western College Publishing.
Hoskisson, R. E., & Hitt, M. A. (1990). Antecedents and performance outcomes of diversification: review and critique of theoretical perspectives. Journal of Management 16, 461–509.
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. American Economic Review , 76, 323–329.
Jiraporn, P., Kim, Y., Davidson, W. & Singh, M. (2006). Corporate Governance, Shareholder rights and firm diversification: An empirical analysis. Journal of Banking & Finance, 30, 947-963.
Jung, J. (2003). The bigger, the better? Measuring the financial health of media firms. The International Journal on Media Management, 5(4), 237-250.
Lewellen, W. (1971). A pure financial rationale for the conglomerate merger. Journal of Finance 26, 521-537.
Lubatkin, M., & Rogers, R. C. (1989). The impact of diversification strategy on risk return performance. Strategic Management Journal, 10, 271-284.
Lubatkin, M. H., & Chatterjee, S. (1994). Extending modern portfolio the domain of corporate diversification: does it apply? Academy of Management Journal, 37, 109–136.
Majd, S., & Meyers, S. (1987). Tax asymmetries and corporate income tax reform. Effects of Taxation on Capital Accumulation. Ed. M. Fedstein. Chicago: University of Chicago Press.
Markides, C. C. (1992). Consequences of corporate refocusing: Ex ante Evidence. Academy of Management Journal, 35, 398-412.
Markides, C. C., & Williamson, P. J. (1994). Related diversification, core competencies and corporate performance. Strategic Management Journal, 15, 149–165.
Meyer, M., Milgrom, P. & Roberts, J. (1992). Organizational prospects, influence costs and ownership changes. Journal of Economics and Management Strategy, 1, 9-35.
Michel, A., & Shaked, I. (1984). Does business diversification affect performance? Financial Management, 13(4), 18-25.
Montgonmery, C. A. (1994). Corporate diversification. Journal of Economic Perspectives, 8, 163-178.
Mueller, D. (1972). A life cycle theory of the firm. Journal of Industrial Economics, 20, 199.Nathanson, D. A., & Cassano, J. S. (1982). Organization, Diversity, and Performance. Wharton Magazine 6, 19–26.
Ojo, O. (2003). Fundamentals of Research Methods. Lagos: Standard Publications.
Palich, L., Cardinal, L. & Miller, C. (2000). Curvilinearity in the diversification-performance linkage: An examination of over three decades of research. Strategic Management Journal, 21, 155-174.
Penrose, E. (1995). The Theory of the Growth of the Firm. Oxford: Oxford University Press.
Rajan, R., Servaes, H. & Zingales, L. (2000). The cost of diversity: diversification discount and inefficient investment. Journal of Finance, 55, 35-80.
Ramanujam, V., & Varadarajan, P. (1989). research on corporate diversification: A synthesis. Strategic Management Journal, 10(6), 523–551.
Reed, R., & Luffman, G. A. (1986). Diversification: the growing confusion. Strategic Management Journal, 7, 29-35.
Rumelt, R. P. (1974). Strategy, structure, and economic performance. Cambridge: Harvard University Press.
Rumelt, R. P. (1982). Diversification strategy and profitability. Strategic Management Journal 3(4), 359–369.
Salter, M. S., & Weinhold, W. S. (1979). Diversification through acquisition. New York: The Free Press.
Sambharya, R. B. (2000). Assessing the construct validity of strategic and SIC-based measures of corporate diversification. British Journal of Management 11, 163-173.
Santalo, J. & Becerra, M. (2006). The dominance of diversified versus specialized firms across industries, Journal of Business Research, 59: 335-340.
Santalo, J., & Becerra, M. (2004). The effect of diversification on performance revisited: diversification discount, premium, or both? Institutode de Empresa, Working Paper, Madrid.Schleifer, A. & Vishny, R. W. (1991). Takeovers in the ‘60s and the ‘80s: evidence and implications, Strategic Management Journal, 12: 51-59.
Schleifer, A., & Vishny, R. W. (1989). Management Entrenchment: The case of manager-specific investments. Journal of Financial Economics, 25, 123.Servaes, H. (1996). The value of diversification during the conglomerate merger wave. Journal of Finance, 51, 1201–1225.
St. John C. H., & Harrison, J. S. (1999). Manufacturing-based relatedness, synergy, and coordination. Strategic Management Journal, 20, 129-145.
Stiroh, K., & Rumble, A. (2003). The dark side of diversification for U. S. bank holding companies. Unpublished Paper, Federal Reserve Bank of New York.Williamson, O. (1967). Hierarchical control and optimum firm size. Journal of Political Economy 75, 123-138.