Diversification, restructuring and economic performance
研究了20世纪80年代许多企业通过聚焦核心业务来减少多元化的现象，发现这种重组事后与盈利能力提升相关。
Abstract During the 198Os, many conglomerates and other diversified firms reduced their diversification by refocusing on their core businesses. This paper provides an economic explanation for this phenomenon and empirically tests the hypotheses that emerge from the analysis. It is shown that refocusing is associated ex post with Profitability improvements.