Relationship with risk-taking for mature companies

DOI
  • Nishida Shintaro
    Doctoral Program, Graduate school of Regional Policy Design, Hosei University

Bibliographic Information

Other Title
  • 成熟期の企業におけるリスクテイキングとの関係
  • From the point of view of diversification and business withdrawal
  • 多角化及び事業撤退の観点から

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Description

The purpose of this study is to clarify the relationship between risk-taking and diversification and business withdrawal as well as risk-taking and corporate performance for mature companies. The measure of risk-taking is the standard deviation of EBITDA/TA, which is the most used measure in previous studies. Furthermore, we consider the time lagged effect of risk-taking and corporate performance. This study used the entropy index and Herfindahl index as indicators of business diversification, and the overseas sales ratio as an indicator of regional diversification. In addition, Organization Restructuring Gain/loss on business were used as an indicator of business withdrawal. The results of the quantitative analysis suggest that risk-taking and corporate performance are positively for mature companies, even after taking into account the time lag. In addition, the results suggest that it is desirable for maturity companies to specialize in business through the business withdrawal, and that it is desirable to make more progress in regional diversification.

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Details 詳細情報について

  • CRID
    1390293589392181632
  • DOI
    10.32241/crmsj.30.0_27
  • ISSN
    24346225
    0919245X
  • Text Lang
    ja
  • Data Source
    • JaLC
  • Abstract License Flag
    Disallowed

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