Diversification, Industry Research and Development, and Market Performance.
Academy of Management ProceedingsPublished 1 August 1986
Craig S. Galbraith, Bruce Samuelson, Curt H. Stiles, Greg Merrill
Citations19
SJR score0.14
SNIP0.05
Generate an AI Snapshot to get a quick, structured summary of this paper.
Study Snapshot
ObjectiveStudy objective
MethodsResearch methodology
PopulationPopulation studied
Sample sizeSample sizes
OutcomesStudy outcomes here
ResultsStudy results comes here
LimitationsResearch study limitations comes here
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
Abstract
We present empirical evidence that unrelated diversification represents a hedging strategy against the technological surprises that occur in industries intensive in research and development. Using several measures of stock returns, we also show that the market rewards both unrelated diversification, and an underlying involvement in research and science based industries.
Keywords
Computer ScienceEconomics, Econometrics and Finance