Prior work has shown an association between diversification strategy and profitability. This paper replicates that association using more recent and complete data and goes on to investigate the sources of the association. Theoretical arguments are advanced which predict the association which will remain once the effects of varying industry profitability are removed. Empirical tests verify this prediction and permit the discrimination between the effects of industry and diversification strategy on profitability.
Richard RumeltRelated topics
datum discrimination diversification industry once paper predict prediction remain show using work profitabilityRelated quotes
... if you really care about someone, you must remain unconcerned about how the person may perceive you. Friends or family members may feel disturbed that you won't take drugs, drink alcohol, or even eat meat with them, and that you won't let them do these things in your home. However, remember that caring about other people means that you don't want to see them do harm to themselves. If a person doesn't want to associate with you anymore, then you don't need that kind of association.
Bhakti Tirtha Swami
We see that the spiritual world is characterized by an atmosphere of selflessness and of the animated love of dynamic association. There is an intense mood of appreciation and caring that creates the dynamic synergy of devotees working together on different services which are perfectly Krishna-centered. If we are blessed by Srimati Radharani, it is guaranteed that we will gradually be able to re-enter the land of pure love. If we do not receive Her blessings, it is guaranteed that we will remain disqualified.
Bhakti Tirtha Swami
Psychoanalysis provides truth in an infantile, that is, a schoolboy fashion: we learn from it, roughly and hurriedly, things that scandalize us and thereby command our attention. It sometimes happens, and such is the case here, that a simplification touching upon the truth, but cheaply, is of no more value than a lie. Once again we are shown the demon and the angel, the beast and the god locked in Manichean embrace, and once again man has been pronounced, by himself, not culpable.
Stanisław Lem
Ideally a painter (and, generally, an artist) should not become conscious of his insights without taking the detour through his reflective processes, and incomprehensibly to himself, all his progress should enter so swiftly into the work that he is unable to recognize them in the moment of transition. Alas, the artist who waits in ambush there, watching, detaining them, will find them transformed like the beautiful gold in the fairy tale which cannot remain gold because some small detail was not taken care of.
Rainer Maria Rilke
Now, if the principle of toleration were once admitted into classical education --if it were admitted that the great object is to read and enjoy a language, and the stress of the teaching were placed on the few things absolutely essential to this result, if the tortoise were allowed time to creep, and the bird permitted to fly, and the fish to swim, towards the enchanted and divine sources of Helicon --all might in their own way arrive there, and rejoice in its flowers, its beauty, and its coolness.
Harriet Beecher Stowe