Diversification, industry dynamism, and economic performance : the impact of dynamic-related diversification on the multi-business firm / / Matthias Knecht

• Record Nr.: UNINA9910298539003321
• Autore: Knecht Matthias
• Pubbl/distr/stampa: Wiesbaden, : Springer Gabler, 2014
• ISBN: 3-658-02677-4
• Edizione: [1st ed. 2014.]
• Descrizione fisica: 1 online resource (365 p.)
• Disciplina: 658.16
• Soggetti: Diversification in industry; Conglomerate corporations
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""FOREWORD""; ""ACKNOWLEDGMENTS""; ""CONTENTS""; ""LIST OF FIGURES""; ""LIST OF TABLES""; ""LIST OF ABBREVIATIONS""; ""1 INTRODUCTION""; ""1.1 Problem Definition""; ""1.2 Research Gap and Motivation""; ""1.2.1 Diversification, Relatedness, and Performance""; ""1.2.2 The Dynamism of Industries""; ""1.3 Research Question""; ""1.3.1 Industry Dynamism""; ""1.3.2 Corporate Diversification""; ""1.3.3 Method of Reasoning""; ""1.4 Dissertation Outline""; ""2 THEORETICAL BACKGROUND""; ""2.1 Guiding Theories in Strategic Management""; ""2.1.1 Market-based View""; ""2.1.2 Resource-based View""; ""2.1.3 Dynamic Capabilities View""""2.2 Terminology""; ""2.2.1 Resources""; ""2.2.2 Capabilities and Competencies""; ""2.2.3 Dynamic Capabilities""; ""2.2.4 Rents""; ""2.3 The Environment of the Firm""; ""2.3.1 Definition of the Macro Environment""; ""2.3.2 Definition of the Task Environment""; ""2.3.3 Dimensions of the Environment""; ""3 CORPORATE DIVERSIFICATION""; ""3.1 Corporate Diversification: An Introduction""; ""3.1.1 Definition of Diversification""; ""3.1.2 A Process Perspective on Diversification""; ""3.1.3 A Status Perspective on Diversification""; ""3.1.4 Perspective on Corporate Diversification in this Research""""3.2 Motives for Diversification""; ""3.2.1 Synergies""; ""3.2.2 Agency Theory""; ""3.2.3 Market Power""; ""3.2.4 Risk Reduction""; ""3.2.5 Transaction Costs""; ""3.3 Limits and Costs of Diversification""; ""3.3.1 ; Implementation Costs""; ""3.3.2 Complexity and Coordination Costs""; ""3.3.3 Limited Cognitive Capacity""; ""3.4 Diversification and Economic Performance""; ""3.4.1 Substitutability vs. Complementarity""; ""3.4.2 Relatedness and the Realization of Synergies""; ""3.4.3 Operational Relatedness""; ""3.4.4 Strategic Relatedness""""3.4.5 Relatedness as a Multidimensional Construct""; ""3.5 The Diversification-Performance Puzzle""; ""3.5.1 State of Research on the Diversification-Performance Linkage""; ""3.5.2 Methodological Considerations""; ""3.6 Interim Conclusion""; ""4 INDUSTRY DYNAMISM""; ""4.1 Industry Dynamism: An Introduction""; ""4.1.1 The Concept of Dynamism""; ""4.1.2 Understanding Dynamism: A Growing Confusion""; ""4.1.3 Academic Contributions on Dynamism""; ""4.2 Definition of Dynamism in the Context of this Research""; ""4.2.1 Dynamism as a Multidimensional Construct""; ""4.2.2 The Three Dimensions of Dynamism""""4.3 Impact of Dynamism on the Multi-business Firm""; ""4.3.1 Dynamic Capabilities""; ""4.3.2 Dominant Logic""; ""4.3.3 Synthesis: Dynamism as a New Dimension of Strategic Relatedness""; ""4.4 Hypotheses and Research Model""; ""4.4.1 Standards for Hypothesis Development""; ""4.4.2 Performance Effect of Dynamic-related Diversification""; ""4.4.3 Performance Effect of Relatedness on the Dimensions of Dynamism""; ""4.4.4 Effect of Product/Market-based Relatedness""; ""4.4.5 Overview Research Model""; ""5 EMPIRICAL ANALYSIS I: INDUSTRY DYNAMISM""; ""5.1 Measurement of Industry Dynamism""
• Sommario/riassunto: The decision to diversify lies at the core of corporate strategy and constitutes one of top management’s most important choices. Yet despite its importance and prominence within academic research, diversification remains subject to ongoing debate. Matthias Knecht introduces a new perspective on corporate diversification that extends the academic discussion and reveals substantial new insights. The author introduces the dynamism of industries as a dominant force in the environment that influences the diversified corporation on multiple levels. Due to similarities of businesses competing in similarly dynamic environments, synergistic benefits and superior economic performance can be realized through the combination of dynamic-related businesses in the corporate portfolio. This study provides a multidimensional operationalization of industry dynamism and an in-depth assessment of the dynamism of a wide range of industries. At the core of the study Knecht investigates the performance impact of dynamic-related diversification strategies. The results provide new insights into successful corporate portfolio construction in the face of today’s dynamic environments. Contents n Corporate Diversification Strategies n Measurement of Industry Dynamism n Impact of Dynamism on the Multi-business Firm Target Groups ● Scholars and students from the strategic management and finance disciplines ● Corporate top managers interested in the performance effects of corporate diversification strategies About the Author Dr. Matthias Knecht obtained his doctorate degree at Friedrich-Alexander University Erlangen-Nürnberg. He works as a strategy consultant. .