Erschienen in:

27.11.2022 | Review Paper

Financing effects of corporate diversification: A review

verfasst von: Viswanathan Nagarajan, Pitabas Mohanty, Apalak Khatua

Erschienen in: Review of Managerial Science | Ausgabe 7/2023

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Abstract

Der Artikel "Finanzierungseffekte der Unternehmensdiversifizierung: Ein Überblick" geht der komplexen Beziehung zwischen Unternehmensdiversifizierung und Unternehmensfinanzierung nach. Er beginnt mit dem seit langem bestehenden Interesse an den Wertauswirkungen der Diversifizierung und der fehlenden Synthese ihrer Finanzierungseffekte. Die Autoren stellen ein konzeptionelles Rahmenwerk vor, das zwischen Konglomeraten und Unternehmensgruppen unterscheidet, und untersuchen die Kanäle, über die Diversifizierung die Finanzierung beeinflusst, einschließlich finanzieller Synergien und interner Kapitalmärkte. Finanzielle Synergien wie die Mitversicherung können das Ausfallrisiko verringern und die Schuldenkapazität erhöhen, aber auch Risiken wie die Kontaminierung von Risiken mit sich bringen. Auf der anderen Seite können interne Kapitalmärkte finanzielle Beschränkungen lockern und während eines Konjunkturabschwungs Unterstützung bieten. Der Artikel diskutiert auch die unterschiedlichen Finanzierungsfolgen von Pyramidenstrukturen in Unternehmensgruppen, darunter sowohl Vorteile wie Zugang zu Kapital als auch potenzielle Nachteile wie Tunnelbau. Der Bericht schließt, indem er Lücken in der aktuellen Forschung identifiziert und Wege für zukünftige Studien aufzeigt, was ihn zu einer wertvollen Ressource sowohl für akademische Forscher als auch für Fachleute aus der Industrie macht.

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Vorheriger Artikel Transgenerational entrepreneurship in family firms: a configurational approach

Nächster Artikel Value relevance of voluntary intellectual capital disclosure: a meta-analysis

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Titel: Financing effects of corporate diversification: A review
verfasst von: Viswanathan Nagarajan
Pitabas Mohanty
Apalak Khatua
Publikationsdatum: 27.11.2022
Verlag: Springer Berlin Heidelberg
Erschienen in: Review of Managerial Science / Ausgabe 7/2023
Print ISSN: 1863-6683
Elektronische ISSN: 1863-6691
DOI: https://doi.org/10.1007/s11846-022-00604-x

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