Data di Pubblicazione:
2015
Abstract:
This paper examines the links between product diversification, international diversification
and capital structure for a panel of medium and large Italian firms. The results indicate that
the interaction between these two dimensions of diversification strategy has a negative and
significant impact on leverage. Furthermore, debt maturity analysis reveals that firms pursuing a simultaneous dual diversification strategy have, in particular, lower long-term debt
ratios. Our findings support the hypothesis that the complexity that comes from diversification reduces debt levels.
and capital structure for a panel of medium and large Italian firms. The results indicate that
the interaction between these two dimensions of diversification strategy has a negative and
significant impact on leverage. Furthermore, debt maturity analysis reveals that firms pursuing a simultaneous dual diversification strategy have, in particular, lower long-term debt
ratios. Our findings support the hypothesis that the complexity that comes from diversification reduces debt levels.
Tipologia CRIS:
14.a.1 Articolo su rivista
Keywords:
Business and International Management; Strategy and Management1409 Tourism, Leisure and Hospitality Management; Management Science and Operations Research; Management of Technology and Innovation
Elenco autori:
Monteforte, Daniele; Staglianò, Raffaele
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