A longitudinal study of the cause and consequences of changes in diversification in the U.S. pharmaceutical industry 1977–1986 | Zendy

Hill Charles W. L. | Zendy; Hansen Gary S. | Zendy

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A longitudinal study of the cause and consequences of changes in diversification in the U.S. pharmaceutical industry 1977–1986

Author(s) -

Hill Charles W. L.,

Hansen Gary S.

Publication year - 1991

Publication title -

strategic management journal

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 11.035

H-Index - 286

eISSN - 1097-0266

pISSN - 0143-2095

DOI - 10.1002/smj.4250120303

Subject(s) - diversification (marketing strategy) , pharmaceutical industry , industrial organization , economics , longitudinal study , business , economic geography , marketing , microbiology and biotechnology , biology , mathematics , statistics

The paper hypothesizes that diversification by firms based in the pharmaceutical industry during the 1977‐86 time period was primarily undertaken to reduce the risks associated with being dependent upon a technologically dynamic environment. Consistent with this non‐efficiency motive for diversification, declining economic performance is predicted. A longitudinal empirical analysis provides support for these propositions.

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