LEADER 06479nam 2200613 a 450 001 9910298539003321 005 20200520144314.0 010 $a3-658-02677-4 024 7 $a10.1007/978-3-658-02677-6 035 $a(CKB)2670000000403435 035 $a(EBL)1317713 035 $a(OCoLC)854976145 035 $a(SSID)ssj0000962670 035 $a(PQKBManifestationID)11487308 035 $a(PQKBTitleCode)TC0000962670 035 $a(PQKBWorkID)10976122 035 $a(PQKB)11164193 035 $a(MiAaPQ)EBC1317713 035 $a(DE-He213)978-3-658-02677-6 035 $a(PPN)172431182 035 $a(EXLCZ)992670000000403435 100 $a20130718d2014 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDiversification, industry dynamism, and economic performance $ethe impact of dynamic-related diversification on the multi-business firm /$fMatthias Knecht 205 $a1st ed. 2014. 210 $aWiesbaden $cSpringer Gabler$d2014 215 $a1 online resource (365 p.) 300 $aDescription based upon print version of record. 311 $a3-658-02676-6 320 $aIncludes bibliographical references. 327 $a""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"" 327 $a""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"" 327 $a""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"" 327 $a""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"" 327 $a""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"" 327 $a""5.1 Measurement of Industry Dynamism"" 330 $aThe 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.  . 606 $aDiversification in industry 606 $aConglomerate corporations 615 0$aDiversification in industry. 615 0$aConglomerate corporations. 676 $a658.16 700 $aKnecht$b Matthias$01060123 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910298539003321 996 $aDiversification, Industry Dynamism, and Economic Performance$92511299 997 $aUNINA