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Título
Determinants and effects of increasing diversification: new empirical evidence for the Spanish economy
Autor
Facultad/Centro
Área de conocimiento
Es parte de
Anales de economía aplicada 2009 , XXIII Reunión Anual ASEPELT (Covilhâ, Portugal)
Cita Bibliográfica
Martínez Campillo, A. y Sierra Fernández, M. P., (2009). Determinants and effects of increasing diversification: new empirical evidence for the Spanish economy. En J. R. Pires Manso y J. D. Monteiro (Eds.), Anales de economía aplicada 2009 , XXIII Reunión Anual ASEPELT (Covilhâ, Portugal) (p. 291). ASEPELT; Delta Publicaciones. http://www.asepelt.org/ficheros/File/Anales/2009-Portugal/ANALES_ANAIS_2009.pdf
Editorial
ASEPELT, Asociación Científica Internacional de Economía Aplicada
Fecha
2009
Resumen
[EN] Previous works that examine the effects of corporate diversification in the Spanish economy are scarce and contradictory, which impedes the generation of widely accepted conclusions. This paper aims to provide new empirical evidence on the nature of the diversification-performance relationship in Spain during a period characterized by important transformations in the competitive environment (1997-2001) and hence in the strategic tendency of firms. After using Heckman´s two-stage method on a sample of 236
large Spanish firms, results indicate that increasing diversification positively and significantly influenced firm profitability over this period. By comparing these results with those previously obtained for the Spanish economy, it may be concluded that the level of diversification and their consequences vary with time and contextual changes.
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