Empirical evidence on the determinants of the stock market reaction to product and market diversification announcements

Edward Jones and Jo Danbolt

Applied Financial Economics, 2005, vol. 15, issue 9, 623-629

Abstract: The announcement of product and market diversification projects lead to significant abnormal returns of 1.1%. However, the gains are higher for new products than for new markets, and for companies with high price-earnings ratios and low (or zero) dividend yields.

Date: 2005
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DOI: 10.1080/09603100500065461

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