The Economic Characteristics of De‐diversifying Firms
研究了20世纪80年代许多多元化企业通过回归核心业务来减少多元化的现象，发现这些企业相比同行具有更高的多元化和更差的业绩，且核心行业吸引力大时更可能去多元化。
SUMMARY During the 1980s, many diversified firms reduced their diversification by refocusing on their core businesses. This research note tries to identify the characteristics that distinguished the companies that refocused from those that did not. It is found that relative to their industry counterparts, the refocusing firms were characterized by high diversification and poor performance. In addition, a firm was more likely to refocus if its core industry was ‘attractive’.