Technological Specialization and the Decline of Diversified Firms
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DOI: 10.1017/s0022109018000583
Abstract: We document a strong decline in corporate-diversification activity since the late 1970s, and we develop a dynamic model that explains this pattern, both qualitatively and quantitatively. The key feature of the model is that synergies… read more here.
Keywords: specialization decline; diversified firms; model; technological specialization ... See more keywords