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Contagion Effects in Portfolios of Diversified Firms: the Distinct Role of Non-scale vs. Scale-free Resources

17 Oct 2018 -17:00 - 18:30

Abstract: This article analyzes the correlation structure among the sales growth rates of product niches in portfolios of diversified companies. Distinguishing product niches linked by scale-free versus non–scale-free resources, this study predicts that when a firm diversifies with a scale-free resource, positive correlations among product niches prevail. The more a firm diversifies with non–scale-free resources though, the more it generates negative correlations across product niches. An augmenting moderator of this latter effect is the value of the resource. Different micro-correlation structures have implications for the variance and growth of the firm portfolio as a whole. These theoretical intuitions are consistent with data from 2008–2013, reflecting firm sales growth rates in five “shelf-space industries” that span 45 product niches in the largest seven EU countries2018-10-07and the United Kingdom.

Details

Date:
17 Oct 2018
Time:
17:00 - 18:30
Event Category:
Event Tags:

Venue

Arcisstraße 21
München,80333Germany

Other

Name (Seminar)
Marco Giarratana
Link Name (Seminar)
https://www.ie.edu/business-school/faculty-and-research/faculty/marco-giarratana/
Institution
IE Business School
Room
0544
Host
Joachim Henkel
Host Link
https://www.tim.wi.tum.de/index.php?id=159
Room Link
https://portal.mytum.de/campus/roomfinder/roomfinder_viewmap?mapid=12&roomid=0544@0505

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