This article addresses the impact of governance structure on diversification behavior. Hypotheses are developed regarding the differences in diversification strategy of cooperatives and stock listed companies. The analysis shows that stock listed companies are more diversified than cooperatives, related as well as unrelated.

cooperatives, diversification, governance structure, stock listed companies
Firm Objectives, Organization, and Behavior (jel L2), Business Administration and Business Economics; Marketing; Accounting (jel M), Business Administration: General (jel M10)
Erasmus Research Institute of Management
ERIM Report Series Research in Management
Copyright 2002, G.W.J. Hendrikse, A.A.C.J. Van Oijen, This report in the ERIM Report Series Research in Management is intended as a means to communicate the results of recent research to academic colleagues and other interested parties. All reports are considered as preliminary and subject to possibly major revisions. This applies equally to opinions expressed, theories developed, and data used. Therefore, comments and suggestions are welcome and should be directed to the authors.
Erasmus Research Institute of Management

Hendrikse, G.W.J, & van Oijen, A.A.C.J. (2002). Diversification and Corporate Governance (No. ERS-2002-48-ORG). ERIM Report Series Research in Management. Erasmus Research Institute of Management. Retrieved from