Diversification strategy and profitability
用更新更完整的数据验证了多元化战略与盈利能力之间的关联，并进一步探究其来源，发现剔除行业盈利差异后关联依然存在。
Abstract Prior work has shown an association between diversification strategy and profitability. This paper replicates that association using more recent and complete data and goes on to investigate the sources of the association. Theoretical arguments are advanced which predict the association which will remain once the effects of varying industry profitability are removed. Empirical tests verify this prediction and permit the discrimination between the effects of industry and diversification strategy on profitability.