The Failure of Empirical Research to Find Unambiguous Evidence That

Multiple Choice

The failure of empirical research to find unambiguous evidence that related diversification outperforms unrelated evidence points to:

A) The fact that firm performance is the outcome of many factors of which diversification strategy is only one
B) Reverse causation: it may be that poorly performing firms are more likely to take the risk of unrelated diversification
C) Difficulties in determining whether diversification is related or unrelated
D) All the above.