Large diversified firms have been a dominant factor in the economies of many developing countries. Nonetheless, they have received only limited research attention, and consequently our knowledge of the nature and extent of their behaviour is limited. This research sought to contribute to filling this gap. Analysis of 163 diversification moves undertaken by 44 firms in various developing countries shows a considerable variation across developing regions and over time in terms of the objectives that drive the diversification activities and the strategies pursued to implement them. This variation can largely be attributed to specific characteristics of countries and regions that affect the behaviour of firms.
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