STOCK-MARKET REACTIONS TO RELATED DIVERSIFICATION MOVES BY SERVICE FIRMS SEEKING BENEFITS FROM INFORMATION ASYMMETRY AND ECONOMIES OF SCOPE

• 成果类型: Article
• 署名作者: NAYYAR, PR
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.4250140802
• 发表日期: 1993
• 页码: 569-591
• 关键词: Diversification; SERVICE FIRMS; economies of scope; information asymmetries

摘要

Service firms may seek benefits from information asymmetry and economies of scope by diversifying. Each source of benefit is based on different underlying mechanisms and each is affected differently by implementation difficulties and service characteristics. Previous research, however, has not analyzed the relative performance effects of these two very different sources of benefits for related diversified service firms. Thus, this paper uses an integrative framework including these aspects to examine the relative performance effects of benefits from information asymmetry and economies of scope in service firms.