Efeito da estratégia de diversificação no valor da empresa: uma revisão sistemática da literatura

Elimar Veloso Conceição, David Ferreira Lopes Santos, Ana Claudia Fernandes Terence

Resumo


Não há um consenso teórico e prático quanto à importância da estratégia de diversificação no modelo de criação de valor da empresa. O objetivo deste estudo é analisar os resultados das principais pesquisas acadêmicas neste tema, avalia-se o efeito da diversificação evidenciada na literatura na expectativa de oferecer um framework capaz de aumentar a compreensão da controversa relação entre diversificação e criação de valor. A amostra abrange 38 artigos publicados nos últimos 21 anos (1996 e 2017) em periódicos indexados à plataforma Web of Science. A análise dos artigos envolve a estratificação qualitativa que delineia o perfil das pesquisas nesta temática. Em adição, emprega-se a análise de conteúdo nos artigos a partir das categorias centrais presentes na literatura. A compreensão resultante desse estudo é que o efeito da diversificação não se apresenta como inicialmente planejado, pois os fatores como governança corporativa, legislação, aprendizagem, assimetria de informações, restrições financeiras influenciam o processo de criação de valor e nem sempre são considerados nas estratégias de diversificação. 

 

There is neither theoretical nor practical consensus on the importance of the diversification strategy on the value creation model of the company. The goal of this study is to analyze the results of the main academic researches in this subject; the effect of the diversification evidenced in the literature is evaluated in the expectation of offering a framework capable of increasing the understanding of the controversial relation between diversification and value creation. The sample includes 38 articles published in the last 21 years (1996 to 2017) in journals indexed to the Web of Science platform. The analysis of the articles involves the qualitative stratification that outlines the profile of the researches in this theme. In addition, it is used the content analysis in the articles from the central categories present in the literature. The resulting understanding of the study is that the effect of diversification is not presented as initially planned, since factors such as corporate governance, legislation, learning, information asymmetry and financial constraints all influence the value creation process and they are not always considered in the strategies of diversification. 


Palavras-chave


Publicações Acadêmicas; Desempenho; Estratégia Empresarial; Modelo de Criação de Valor

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DOI: https://doi.org/10.28950/1981-223x_revistafocoadm/2018.v11i1.513

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