{"id":"https://openalex.org/W4251130745","doi":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x","title":"Corporate Refocusing","display_name":"Corporate Refocusing","publication_year":1993,"publication_date":"1993-03-01","ids":{"openalex":"https://openalex.org/W4251130745","doi":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x"},"language":"en","primary_location":{"id":"doi:10.1111/j.1467-8616.1993.tb00038.x","doi":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x","pdf_url":null,"source":{"id":"https://openalex.org/S182215941","display_name":"London Business School Review","issn_l":"0955-6419","issn":["0955-6419","1467-8616","2057-1607","2057-1615"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-scientific","jufo-1","poland-20"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Business Strategy Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5020288543","display_name":"Costas Markides","orcid":"https://orcid.org/0000-0002-2495-1236","observed_orcids":["https://orcid.org/0000-0002-2495-1236"]},"institutions":[{"id":"https://openalex.org/I61544103","display_name":"London Business School","ror":"https://ror.org/001c2sn75","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I61544103"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Constantinos Markides","raw_affiliation_strings":["Assistant Professor of Strategic and International Management at London Business School"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Assistant Professor of Strategic and International Management at London Business School","institution_ids":["https://openalex.org/I61544103"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5020288543"],"corresponding_institution_ids":["https://openalex.org/I61544103"],"apc_list":null,"apc_paid":null,"fwci":6.8313,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":{"value":0.96521246,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":97},"biblio":{"volume":"4","issue":"1","first_page":"1","last_page":"15"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9663000106811523,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9663000106811523,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13642","display_name":"Organizational Downsizing and Restructuring","score":0.007899999618530273,"subfield":{"id":"https://openalex.org/subfields/1407","display_name":"Organizational Behavior and Human Resource Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13963","display_name":"Organizational Management and Leadership","score":0.00570000009611249,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/conglomerate","display_name":"conglomerate","score":0.7179999947547913},{"id":"https://openalex.org/keywords/diversification","display_name":"diversification","score":0.7829999923706055},{"id":"https://openalex.org/keywords/core-business","display_name":"core business","score":0.6430000066757202},{"id":"https://openalex.org/keywords/hostile-takeovers","display_name":"hostile takeovers","score":0.5699999928474426},{"id":"https://openalex.org/keywords/firm-profitability","display_name":"firm profitability","score":0.5720000267028809},{"id":"https://openalex.org/keywords/market-value","display_name":"market value","score":0.9100000262260437},{"id":"https://openalex.org/keywords/capital-market-competition","display_name":"capital market competition","score":0.8550000190734863},{"id":"https://openalex.org/keywords/business-environment-volatility","display_name":"business environment volatility","score":0.6610000133514404}],"concepts":[{"id":"https://openalex.org/C180916674","wikidata":"https://www.wikidata.org/wiki/Q3711935","display_name":"Diversification (marketing strategy)","level":2,"score":0.7352714538574219},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7066441178321838},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7062727212905884},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.5362118482589722},{"id":"https://openalex.org/C50335755","wikidata":"https://www.wikidata.org/wiki/Q483247","display_name":"Phenomenon","level":2,"score":0.5178225636482239},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.47165217995643616},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.4614627957344055},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2535852789878845},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.22986459732055664},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.19767335057258606},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/j.1467-8616.1993.tb00038.x","doi":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-8616.1993.tb00038.x","pdf_url":null,"source":{"id":"https://openalex.org/S182215941","display_name":"London Business School Review","issn_l":"0955-6419","issn":["0955-6419","1467-8616","2057-1607","2057-1615"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-scientific","jufo-1","poland-20"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Business Strategy Review","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":26,"referenced_works":["https://openalex.org/W1511488712","https://openalex.org/W1551895083","https://openalex.org/W1563598498","https://openalex.org/W1572028428","https://openalex.org/W1614957981","https://openalex.org/W1970685113","https://openalex.org/W1973903830","https://openalex.org/W1974998909","https://openalex.org/W1990333450","https://openalex.org/W1993191426","https://openalex.org/W1996724804","https://openalex.org/W2018474480","https://openalex.org/W2031786076","https://openalex.org/W2034908742","https://openalex.org/W2044424054","https://openalex.org/W2054428106","https://openalex.org/W2068518527","https://openalex.org/W2105568191","https://openalex.org/W2107912985","https://openalex.org/W2120024454","https://openalex.org/W2124255482","https://openalex.org/W2143328014","https://openalex.org/W2154127636","https://openalex.org/W2160860931","https://openalex.org/W3121131820","https://openalex.org/W7065012735"],"related_works":["https://openalex.org/W2145692369","https://openalex.org/W1594363471","https://openalex.org/W2153859640","https://openalex.org/W2338041547","https://openalex.org/W2252424335","https://openalex.org/W2128456753","https://openalex.org/W1587500039","https://openalex.org/W1926880091","https://openalex.org/W120639696","https://openalex.org/W7096103860"],"abstract_inverted_index":{"During":[0],"the":[1,34],"1980s,":[2],"many":[3],"conglomerates":[4],"and":[5,45,51,61,66],"other":[6],"diversified":[7],"firms":[8,38,54],"reduced":[9],"their":[10,15],"diversification":[11],"by":[12],"refocusing":[13,32],"on":[14],"core":[16],"businesses.":[17],"This":[18],"paper":[19],"provides":[20],"an":[21],"economic":[22],"explanation":[23],"for":[24],"this":[25],"phenomenon.":[26],"It":[27],"is":[28],"argued":[29],"that:":[30],"(a)":[31],"represents":[33],"natural":[35],"response":[36],"of":[37],"to":[39],"a":[40,46,62],"more":[41,47],"volatile":[42],"external":[43],"environment":[44],"competitive":[48],"capital":[49],"market;":[50],"(b)":[52],"over\u2010diversified":[53],"that":[55],"refocus":[56],"will":[57,67],"achieve":[58],"improved":[59],"profitability":[60],"higher":[63],"market":[64],"value,":[65],"thus":[68],"protect":[69],"themselves":[70],"from":[71],"hostile":[72],"takeover.":[73]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2016,"cited_by_count":2},{"year":2014,"cited_by_count":3},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2022-05-12T00:00:00"}