The Measurement of Corporate Portfolio Strategy : Analysis of The Content Validity of Related Diversification Indexes  

Oleh:

Robins, James A. ; Wiersema, Margarethe F.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 24 no. 1 (2003), page 39-60.
Topik: portfolio; related diversification; content validity; measures

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.11 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Measures developed for the analysis of corporate diversification have become fundamental to a broad range of strategy research. This paper examines the content validity of the two most widely used continuous measures of related diversification - the related component of the entropy index and the concentric index - and raises fundamental questions about their validity as indicator of portfolio relatedness. These questions are not driven by the use of SIC data for estimation of the indexes : they involve validity problems intrinsic to the construction of the measures. The related component of entropy and the concentric index are sensitive to feature of corporate portfolio composition that may not be directly linked to portfolio relatedness. These sensitivities can create important ambiguities in strategy research.

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