Abstract
In this volume, the effects of corporate diversification on value creation are examined. A review of the theoretical models in the field of corporate diversification is followed by empirical results that are addressed with the aim of fostering academic debate and future research. Empirical support for the theoretical arguments is presented, based on data from Italy. This volume is original primarily because it presents a new empirical interpretation of the previous literature on corporate diversification. An extended empirical analysis demonstrates the relevance of distinguishing between listed and unlisted firm for understanding the relationship between diversification and value.