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Nonlinear Effect between Diversification and Corporate Performance from the Perspective of TMT Faultlines: A Panel Smooth Transition Model
2018
American Journal of Industrial and Business Management
The results of existing researches of the relationship of diversification-performance are unstable and contradictory. Hence, according to the theory of TMT faultlines, this empirical study utilizes a panel smooth transition (PSTR) model to investigate whether the relationship of diversification-performance will have a nonlinear transition due to TMT faultlines. Evidence from a sample of 95 publicly traded companies in China from 2006-2015 shows a nonlinear effect under the influence of
doi:10.4236/ajibm.2018.81012
fatcat:xwlr4yd5oreizdwvuxdy674lbm