Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification.

Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations. In this paper, we take a novel perspective to study firms' product scope adjustment behavior through the lens of asset pricing. Using a unique panel scanner data set containing...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Carvalho, Carlos (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, [2017]
Colección:IMF working paper ; WP/17/146.
Temas:
Prices > Econometric models.
Capital assets pricing model.
Risk management.
Prix > Modèles économétriques.
Modèle d'évaluation des actifs financiers.
Gestion du risque.
risk management.
Risk management
Prices > Econometric models
Capital assets pricing model
Asset Pricing.
Business Objectives Of The Firm.
Firm Performance: Size, Diversification, And Scope.
Size Distribution Of Firms.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Table of Contents; 1 Introduction; 2 The Relationship between Extensive Margin Adjustment and Asset Price Under CCAPM; 3 Data Description; 4 Empirical Findings; 4.1 Extensive Margin Adjustment Rate is Sticky
  • 4.2 Comparison between High vs Low Product Turnover Groups; 4.3 Portfolio Analysis; 4.4 Extensive margin Adjustment and Risk; 4.5 Robustness Check; 5 A Dynamic Model of Extensive Margin Adjustment; 5.1 Household; 5.2 Price of the Product; 5.3 Firm's Decision on Optimal Product Scope: Without Friction; 5.4 Firm's Decision on Optimal Product Scope: A Calvo-type Model.
  • 5.5 Model Summary5.6 Return Rate; 5.7 Parametrization; 5.8 Simulation; 6 Conclusion; References; Appendix.

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