Does Information Asymmetry Explain The Diversification Discount?

We examine the diversification discount while controlling for differences in information asymmetry between diversified and nondiversified firms. We show that both diversified and nondiversified firms with higher levels of information asymmetry have discounted firm values relative to firms with lower...

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Bibliographic details
Volume: 27
Main Author: Best, Ronald W
Hodges, Charles W
Lin, Bing-Xuan
Format: Journal Article
Language: English
Zielgruppe: Trade
Place of publication: 350 Main Street , Malden , MA 02148 , USA , and 9600 Garsington Road , Oxford OX4 2DQ , UK Blackwell Publishing 01.06.2004
Southern Finance Association
Wiley Subscription Services, Inc
published in: The Journal of financial research Vol. 27; no. 2; pp. 235 - 249
Data of publication: 2004-06
ISSN: 0270-2592
EISSN: 1475-6803
Discipline: Business
Bibliography: The authors gratefully acknowledge the contribution of IBES Inc. for providing earnings per share forecast data, available through the Institutional Brokers Estimate System.
Series: Journal of Financial Research
Online Access: available in Bonn?
Database: Istex
Academic OneFile (A&I only)
ProQuest One Business
ProQuest One Business (Alumni)
Database information Databases - DBIS