AN ENVIRONMENTAL PERSPECTIVE ON DIVERSIFICATION: THE EFFECTS OF CHEMICAL RELATEDNESS AND REGULATORY SANCTIONS

• 成果类型: Article
• 署名作者: Diestre, Luis; Rajagopalan, Nandini
• 署名单位: IE University; University of Southern California
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/AMJ.2011.59215087
• 发表日期: 2011
• 页码: 97-115
• 关键词: RESOURCE-BASED VIEW; Competitive advantage; firm performance; TECHNOLOGICAL RESOURCES; longitudinal analysis; vertical integration; SECURITIES ANALYSTS; alliance formation; industry; management

摘要

This study integrates resource-based and institutional theory perspectives to examine relationships between the relatedness of chemicals used within the home and target industries of a potential diversifier, target industry regulatory sanctions, and the likelihood of diversification. First, we provide evidence that the level of such chemical relatedness between a home and a target industry increases the likelihood of diversification. Second, we find that the level of target industry regulatory sanctions has an inverted U-shaped effect on the likelihood that a firm will diversify into that industry. We also provide some evidence that chemical relatedness amplifies the inverted U-shaped effect of target industry regulatory sanctions.