Capital market evaluation of M‐form implementation and diversification strategy
用股票市场数据和事件研究法评估企业宣布采用多事业部（M型）结构时的市场反应，发现投资者对此持正面态度，且多元化战略类型（相关vs非相关）会影响其估值。
Abstract Firm announcements of adoption of the multidivisional (M‐form) structure are evaluated using stock market data and event methodology. Results indicate that investors positively value M‐form adoption. Furthermore, some support is found for the hypothesis that firm diversification strategy (related versus unrelated) is contingently related to investors' valuation of M‐form implementation.