The objective of this study is to examine the portfolio theory that suggests that diversification can potentially reduce the return variance and the probability of failure of a portfolio. The current study is to investigate the diversification measure by means of Hershman-Herfindahl index, and applies the " diversification index " proposed by Demsetz & Strahan (1997) by scaling systematic risk ...

Using a database of more than 8,000 companies from 35 countries, we find that the value of corporate diversification is related to the level of capital market development, integration, and legal systems. Among high-income countries, where capital markets are well developed and integrated, we find a significant diversification discount. By contrast, for the lower income and segmented countries, ...

Insects contain more than half of all living species, but the causes of their remarkable diversity remain poorly understood. Many authors have suggested that herbivory has accelerated diversification in many insect clades. However, others have questioned the role of herbivory in insect diversification. Here, we test the relationships between herbivory and insect diversification across multiple ...

This paper brings together evolutionary economics and resource-based approaches to the study of the firm and focuses them upon the issue of technological diversification. Despite the empirical observations that the world is increasingly technologically complex, technological diversification is little studied. Traditional researches into diversification within the firm have still tended to focus...

This paper summarizes stratificational theory, and applies its linguistic methods in a sememic analysis of English prepositions. The phenomenon of interlocking diversification is shown to be quite generally present among the prepositions. Also, the analysis of prepositions is shown to entail a partial sememic analysis of other words; it therefore provides a starting point for the sememic analys...

Introduction Measures of farm diversification Data and model specification Econometric results Discussion Summary and conclusions Acknowledgements References Appendix Abstract. Farm planning often focuses on optimal diversification with respect to risk, where the riskmanagement strategies combine production, marketing, financial and environmental aspects of the farmfirm. In this study an empiri...

To overcome several limitations of existing diversification indices, we introduce the quotient (DQ). Defined through a parametric family risk measures, DQ satisfies three natural properties, namely, non-negativity, location invariance and scale invariance, which are shown to be conflicting for any traditional index based on single measure. We pay special attention two most important classes mea...

purpose: this study investigats the role of tourism second homes in rural economy diversification and improvement of creating jobs and income opportunities of permanent residents in the hesar-e- valiasr dehestan. methodology: this research is applied and the method is analytical– descriptive. data collected by the use of field studies, from a total number of 358 permanent households in sample s...