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Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership

    Authors

    • iman dadashi 1
    • zahra amiri lolaki 2

    1 Department of Accounting, Babol Branch, Islamic Azad University, Babol, Iran

    2 Young Researchers and Elite Club, Babol Branch, Islamic Azad University, Babol, Iran

,

Document Type : Research Paper

10.30479/jfak.2019.10107.2413
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Keywords

  • Bankruptcy Risk
  • Corporate Diversity
  • Strategy
  • Data Envelopment Analysis
  • Entropy
  • Analytic hierarchy process
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References
  1. Anıl, İ., & Yiğit, I. (2011). The Relation between diversification strategy and organizational performance: A research on companies registered to the İstanbul Stock Exchange market. Procedia-Social and Behavioral Sciences, 24, 1494-1509.
  2. Asdemir, O., Fernando, G. D., & Tripathy, A. (2013). Market perception of firm strategy. Managerial finance, 39(2), 90-115.
  3. Bae, S. C., Kwon, T. H., & Lee, J. W. (2011). Does corporate diversification by business groups create value? Evidence from Korean chaebols. Pacific-Basin Finance Journal, 19(5), 535-553.
  4. Balsam, S., Fernando, G. D., & Tripathy, A. (2011). The impact of firm strategy on performance measures used in executive compensation. Journal of Business Research, 64(2), 187-193.
  5.  Banker, R. D.; Mashruwala, R.; and A. Tripathy (2014). “Does A Differentiation Strategy Lead to More Sustainable Financial Performance than A Cost Leadership Strategy?”, Management Decision, Vol. 52, No. 5, pp. 872-896.
  6.  Boratyńska, K. (2016). FsQCA in corporate bankruptcy research. An innovative approach in food industry. Journal of Business Research, 69(11), 5529-5533.
  7. Brenes, E. R., Montoya, D., & Ciravegna, L. (2014). Differentiation strategies in emerging markets: The case of Latin American agribusinesses. Journal of Business Research, 67(5), 847-855.
  8.  Bryan, D.D, Fernando, G., & Tripathy, A. (2013). Bankruptcy risk, productivity and firm strategy. Review of Accounting and Finance, 12(4), 309-326.
  9. Cultrera, L., & Brédart, X. (2016). Bankruptcy prediction: the case of Belgian SMEs. Review of Accounting and Finance, 15(1), 101-119.
  10.  Erdorf, S., Wendels, T.H., Heinrichs, N., & Matz, M. (2013).  Corporat diversification and firm value: a survey of recent literature. Financ Mark PortfMang, 187-215.
  11.  Feito-Ruiz, I., & Menéndez-Requejo, S. (2012). Diversification in M&As: decision and shareholders’ valuation. The Spanish Review of Financial Economics, 10(1), 30-40.
  12.  Filbeck, G., Foster, B., Preece, D., & Zhao, X. (2017). Does diversity improve profits and shareholder returns? Evidence from top rated companies for diversity by DiversityInc. Advances in accounting, 37, 94-102.
  13.  Huang, C., Dai, C., & Guo, M. (2015). A hybrid approach using two-level DEA for financial failure prediction and integrated SE-DEA and GCA for indicators selection. Applied Mathematics and Computation, 251, 431-441.
  14. Huang, H. H., Lobo, G. J., Wang, C., & Xie, H. (2016). Customer concentration and corporate tax avoidance. Journal of Banking & Finance, 72, 184-200.
  15. Jiraporn, P., Kim, Y. S., & Davidson III, W. N. (2008). Multiple directorships and corporate diversification. Journal of Empirical Finance, 15(3), 418-435.
  16.  Lee, M. J., & Jang, S. S. (2007). Market diversification and financial performance and stability: A study of hotel companies. International Journal of Hospitality Management, 26(2), 362-375.
  17.  Lin, C., & Su, D. (2008). Industrial diversification, partial privatization and firm valuation: Evidence from publicly listed firms in China. Journal of Corporate Finance, 14(4), 405-417.
  18.  Marcinkevičius, R., & Kanapickienė, R. (2014). Bankruptcy prediction in the sector of construction in Lithuania. Procedia-Social and Behavioral Sciences, 156, 553-557.
  19.  Mousavi, M. M., Ouenniche, J., & Xu, B. (2015). Performance evaluation of bankruptcy prediction models: An orientation-free super-efficiency DEA-based framework. International Review of Financial Analysis, 42, 64-75.
  20.  Ninh, B. P. V., Do Thanh, T., & Hong, D. V. (2019). Financial distress and bankruptcy prediction: An appropriate model for listed firms in Vietnam. Economic Systems, 42(4), 616-624.
  21.  Park, K., & Jang, S. S. (2012). Effect of diversification on firm performance: Application of the entropy measure. International Journal of Hospitality Management, 31(1), 218-228.
  22.  Park, S., Song, S., & Lee, S. (2017). Corporate social responsibility and systematic risk of restaurant firms: The moderating role of geographical diversification. Tourism Management, 59, 610-620.
  23. Premachandra, I. M., Bhabra, G. S., & Sueyoshi, T. (2009). DEA as a tool for bankruptcy assessment: A comparative study with logistic regression technique. European Journal of Operational Research, 193(2), 412-424.
  24.  Semuel, H., Siagian, H., & Octavia, S. (2017). The effect of leadership and innovation on differentiation strategy and company performance. Procedia-Social and Behavioral Sciences, 237, 1152-1159.
  25.  Singhal, R., & Zhu, Y. E. (2013). Bankruptcy risk, costs and corporate diversification. Journal of Banking & Finance, 37(5), 1475-1489.
  26. Sueyoshi, T., Goto, M., & Shang, J. (2009). Core business concentration vs. corporate diversification in the US electric utility industry: synergy and deregulation effects. Energy Policy, 37(11), 4583-4594.
  27.  Tian, S., Yu, Y., & Guo, H. (2015). Variable selection and corporate bankruptcy forecasts. Journal of Banking & Finance, 52, 89-100.
  28. Wang, G., Ma, J., & Yang, S. (2014). An improved boosting based on feature selection for corporate bankruptcy prediction. Expert Systems with Applications, 41(5), 2353-2361. 
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Financial Accounting Knowledge
Volume 6, Issue 2 - Serial Number 21
September 2019
Pages 185-213
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How to cite
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  • Article View: 938
  • PDF Download: 1,844

APA

dadashi, I. and amiri lolaki, Z. (2019). Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership. Financial Accounting Knowledge, 6(2), 185-213. doi: 10.30479/jfak.2019.10107.2413

MLA

dadashi, I. , and amiri lolaki, Z. . "Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership", Financial Accounting Knowledge, 6, 2, 2019, 185-213. doi: 10.30479/jfak.2019.10107.2413

HARVARD

dadashi, I., amiri lolaki, Z. (2019). 'Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership', Financial Accounting Knowledge, 6(2), pp. 185-213. doi: 10.30479/jfak.2019.10107.2413

CHICAGO

I. dadashi and Z. amiri lolaki, "Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership," Financial Accounting Knowledge, 6 2 (2019): 185-213, doi: 10.30479/jfak.2019.10107.2413

VANCOUVER

dadashi, I., amiri lolaki, Z. Corporate diversity and bankruptcy risk; with emphasis on differentiation strategies and cost leadership. Financial Accounting Knowledge, 2019; 6(2): 185-213. doi: 10.30479/jfak.2019.10107.2413

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