The Effect of Financial Drivers on Product and Geographic Diversification for Listed and Unlisted Firms

This research explores whether product and geographic diversification decisions are explained by free cash flow arguments or internal capital market perspectives. The findings indicate, as a net effect, the dominant role of internal capital market considerations, notably significant for the choice to diversify unconnected and unlisted enterprises, using a unique panel of hand-collected data from…
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January 18, 2022 0