Don't manage your strategic acquisitions like stock portfolios!
评论了Lubatkin和Chatterjee关于现代投资组合理论在公司多元化中应用的论文，指出多元化策略虽能影响企业风险，但方式与金融理论不一致。
The article presents a commentary on the paper ‘Extending Modern Portfolio Theory into the Domain of Corporate Diversification: Does it Apply?,' by Michael Lubatkin and Sayan Chatterjee. The portfolio approach contends that by diversifying into different and disparate industries, the troubles faced by one division of a firm can be balanced by the good fortune of another. The author notes that the research supports the view that diversification strategy can affect a firm's risk, but not in the manner consistent with financial theory.