Abstract
This research investigated the relationships between diversification strategies and productivity of large construction firms in Malaysia. The Generalised Method of Moments was adopted for modelling the impact of diversification strategies on productivity. The research revealed that product and market diversifications affect long-term productivity by altering firm efficiency in managing resource allocation. However, the effectiveness of diversification strategies depends on the changes in formal institutional dimensions and informal context of ownership concentration. The research findings will help construction firms to take into account the effects of institutional contexts when formulating their optimal diversification strategies for better firm productivity.
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