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Keywords: diversification
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Journal Articles
The Accounting Review (2023) 98 (1): 453–478.
Published: 01 January 2023
...Kelly Wentland ABSTRACT This study investigates whether industrial diversification generally provides a tax advantage and how the convexity of the tax system contributes to this benefit. The main findings show that multi-industry operations lower a firm’s taxes and income volatility relative...
Includes: Supplementary data
Journal Articles
The Accounting Review (2015) 90 (5): 1811–1837.
Published: 01 September 2015
... to increase the systematic risk borne by diversified uninformed traders for which they require a higher premium, implying higher expected returns holding risk-bearing capacities constant. As in the setting with competitive informed traders, diversification by uninformed traders, who become competitive...