RESOURCE-ALLOCATION AS AN OUTCROPPING OF STRATEGIC CONSISTENCY - PERFORMANCE IMPLICATIONS

• 成果类型: Article
• 署名作者: HARRISON, JS; HALL, EH; NARGUNDKAR, R
• 署名单位: University Southern Indiana
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/256644
• 发表日期: 1993
• 页码: 1026-1051
• 关键词: research-and-development; RISK-RETURN PERFORMANCE; DIVERSIFICATION STRATEGY; corporate diversification; Competitive advantage; multiproduct firms; empirical-evidence; ENTROPY MEASURE; acquisitions; diversity

摘要

Similarities in financial resource allocations across the lines of business of diversified firms may indicate corporate strategic consistency, which may lead to superior corporate performance. In support of this argument, the variance in R&D intensity across the lines of business of 96 diversified firms was found to be inversely related to industry-adjusted return on assets. However, no relationship was found for capital intensity. These results provide partial support for the usefulness of a resource-based approach to the study of diversification strategy.