Diversification Of Activities Research Articles

Involvement of rural women in gathering of forest products as a means of livelihood in South-Western Nigeria

This study evaluated the involvement of rural women in the collection of forest products. Three hundred rural women involved in gathering of forest products were selected by a three stage sampling technique while primary data were collected with the use of interview schedules as well as Focus Group Discussion (FGD). Analysis of data was done using frequency counts, percentages, mean, standard deviation, correlation and Chi-square. The study revealed that majority (61%) of the women were in their economically active ages, married (76.7%), with mean age and household sizes of 39years, 6 persons respectively. Majority (87%), of the women gather vegetables, fruits (77%), snails (76%), and alligator pepper (71%) and herbs (62%) among others. Women gatherers had positive perceptions that gathering of forest produces is a source of livelihood (x̄= 4.42), gathering of forest is profitable, (x̄= 4.36); and gathering business has improved their standard of living (x̄= 4.06) among others. The benefits derived from gathering activities included: provision of foods (fruits, vegetables, and soup condiments) which ranked first and provision of employment and improvement in rural living standards from sustained income among others. Respondents’ age (r=0.201;≤0.05), experience (r=0.694;≤0.01) and household size (r=0.694;≤0.01) had significant relationship with involvement in the gathering enterprise. It is concluded that rural women involvement in gathering of forest products is high enough but may not ensure sustainable livelihood. The study recommends that stakeholders should prioritize programmes that would promote off-farm income- generating diversification activities through technical and financial support.

Determinants of urban households in the diversification of livelihood activities: The case of Wolaita zone in southern Ethiopia

Diversification of Livelihood Activities (DLA) is indeed crucial for populous countries like Ethiopia, where it serves as a strategy to mitigate food insecurity. Despite its significance, empirical studies focusing on DLA among urban households in Ethiopia are relatively scarce. Therefore, this study examines factors affecting urban households' participation in the DLA in selected towns of the Wolaita zone. The study used both primary and secondary data. A total of 310 sample respondents from three town administrations in the Wolaita zone: Areka, Boditi, and Sodo, were selected using a multi-phase sampling technique. The study used a survey questionnaire, Key Informant Interviews, Focus Group Discussions, and observations as methods for primary data collection. The collected data was analyzed using descriptive and inferential statistics. The results revealed that among the sampled respondents, 23.9 %, 28.4 %, and 33.2 % depend on on-farm, on-farm + non-farm, non-farm + off-farm activities, respectively, while the remaining 14.5 % diversify their livelihood activities through combinations of on-farm + non-farm + off-farm Livelihood Diversification Activities (LDA). The Multinomial Logot (MNL) model result shows that the participation of LDA in the study areas was positively and negatively determined by cooperative membership, development agent training, gender, education, home ownership, rural connections, household income, and technical skills that were found to be statistically significant at 1 %, 5 %, and 10 %. Therefore, the government should prioritize empowering the diversification of livelihood activities and develop policies and programs that support urban households’ livelihoods, with a specific focus on promoting off-farm and non-farm endeavors.

Influence of organization environment on contractor’s inter-regional market entry practice in China: an industry-level approach based on Bayesian logistic regression model

Inter-regional market entry poses a complex challenge for contractors, particularly in the construction industry with its unique characteristics. Existing research predominantly focuses on an international scale and target markets, often overlooking the influence of the organizational environment, especially the home market. This study aims to fill this gap by analyzing how the construction organizational environment affects contractors’ inter-regional market practices. Grounded in theories of organizational management, we developed a theoretical model with seven hypotheses examining the impact of organizational environment. We tested hypotheses with Bayesian logistic regression model based on data from 426 construction organizations in China. Our findings reveal that a contractor’s size significantly impacts the practice compared to other attributes like ownership and experience. Additionally, a thriving local economy strongly supports contractors in exploring other geographical markets. Interestingly, while local competition intensity and protectionism create barriers for external firms, they do not significantly affect the diversification activities of local contractors. These insights contribute to understanding the dynamics of inter-regional market entry in the construction industry and can guide practitioners in strategizing for sustainable growth. Future research could explore more detailed strategies such as market selection and entry mode, enhancing the depth of understanding in this area.

PEMBERDAYAAN MASYARAKAT INDRALAYA RAYAMELALUI INTRODUKSI TEKNOLOGI SOLAR DRYING BIJI LOTUS (Nelumbo nucifera) LIAR

The use of natural water resources in the surrounding area must be utilized optimally through local source diversification activities, especially in Indralaya Raya village, Indralaya District, Ogan Ilir Regency. Availability of lotus seeds is abundant especially during rainy season but has not been utilized optimally. In services program, the introduction of solar drying technology was carried out through outreach and assistance to Village residents, especially youth organizations and micro small medium enterprises (UMKM), regarding the application of technology used for the drying process of lotus seeds, so that the dried lotus seeds could be stored longer for further used, then the next activity continued with the processing of diversified flour products and their derivatives. The success of this activity has shown that the Indralaya Raya residents were enthusiastic about this service activity as shown by the activity achievement indicators. Socialization and assistance activities on the use of solar-powered dryers and the manufacture of flour products and their derivatives have had a positive impact on the Indralaya Raya village community in empowering the activities of youth organizations and UMKMs.

Soil Carbon Storage, Enzymatic Stoichiometry, and Ecosystem Functions in Indian Himalayan Legume-Diversified Pastures

The influences of legume diversification on soil carbon (C) pools and sequestration, particularly in Himalayan pastureland, remain poorly understood. Moreover, the impact of legume diversification activities and the stoichiometry of soil enzymes in C biogeochemistry at the ecosystem level remains largely overlooked. The purpose of this study is to investigate the influences of legume diversification on activities and the stoichiometry of soil enzymes and their control of C sequestration in pasturelands. Four experimental fertilized species combinations, namely, SG (50% Festuca arundinacea + 50% Dactylis glomerata), SGL1 (25% Festuca arundinacea + 25% Dactylis glomerata + 50% Onobrychis viciifolia), SGL2 (25% Festuca arundinacea + 25% Dactylis glomerata + 50% Trifolium pratense), SGL12 (25% Festuca arundinacea + 25% Dactylis glomerata + 25% Onobrychis viciifolia + 25% Trifolium pratense), and natural pasture (NG) were compared. Soils under SGL1, SGL2, and SG12 had ~18, 36, and 22% greater soil C than SG, respectively. Among the pastures with fertilization, the C mineralization was suppressed by legume diversification. C sequestration under SGL1, SGL2, and SG12 was ~27, 22, and 38% higher than SG, respectively, at the 0–30 cm soil layer. The ratios of DHA are as follows: for PhOX and DHA, PerOX significantly decreased with an increasing grass–legume mixture, suggesting greater C sequestration. PCA analysis revealed that C sequestration under legume diversification and enzymatic stoichiometry had an indirect but substantial impact on C sequestration. The increasing C sequestration under SGL12 was complemented by higher productivity. Data suggested that increasing legumes in pastureland might greatly enhance ecosystem functions such as soil C storage, productivity, ecorestoration efficiency, and biological activity in Indian Himalayan pastureland.

Spatial Modelling Analysis for Potential Expansion of Cipanas City Candidate Area as Autonomous City

The establishment of new autonomous city is considered a significant decision and the proposal has been under review in Cipanas for several years. Therefore, this research aimed to address the proposal by conducting spatial modelling analysis for potential expansion of Cipanas as autonomous city, using Geographic Information System (GIS) method. The physical and social factors were analysed, using spatial overlay analysis to determine potential development area. SWOT analysis was also performed for qualitative insights into strengths, weaknesses, opportunities, and threats of the prospective Cipanas area. The results showed that Cipanas had significant potential to become autonomous city, with a particular focus on agriculture and tourism due to the varied topography and predominant natural land use. Through overlay analysis, areas in Pacet, Cipanas, and a small part of Cugenang Sub-districts were identified as potential development zones for the capital city. In general, Cipanas area was found suitable for the development of a major city with an agropolitan concept. Certain areas were considered more appropriate with urban characteristics compared to other areas based on specific criteria. Based on the results, recommendations include infrastructure improvements, economic sector diversification, tourism promotion, and disaster risk reduction activities. GIS spatial analysis facilitated the accurate identification of potential areas, aiding in mapping and pinpointing optimal areas for the establishment of new autonomous city.

Biochemical characterization of a multiple prenyltransferase from Tolypocladium inflatum

Prenylation plays a pivotal role in the diversification and biological activities of natural products. This study presents the functional characterization of TolF, a multiple prenyltransferase from Tolypocladium inflatum. The heterologous expression of tolF in Aspergillus oryzae, coupled with feeding the transformed strain with paxilline, resulted in the production of 20- and 22-prenylpaxilline. Additionally, TolF demonstrated the ability to prenylated the reduced form of paxilline, β-paxitriol. A related prenyltransferase TerF from Chaunopycnis alba, exhibited similar substrate tolerance and regioselectivity. In vitro enzyme assays using purified recombinant enzymes TolF and TerF confirmed their capacity to catalyze prenylation of paxilline, β-paxitriol, and terpendole I. Based on previous reports, terpendole I should be considered a native substrate. This work not only enhances our understanding of the molecular basis and product diversity of prenylation reactions in indole diterpene biosynthesis, but also provides insights into the potential of fungal indole diterpene prenyltransferase to alter their position specificities for prenylation. This could be applicable for the synthesis of industrially useful compounds, including bioactive compounds, thereby opening up new avenues for the development of novel biosynthetic strategies and pharmaceuticals.Key points• The study characterizes TolF as a multiple prenyltransferase from Tolypocladium inflatum.• TerF from Chaunopycnis alba shows similar substrate tolerance and regioselectivity compared to TolF.• The research offers insights into the potential applications of fungal indole diterpene prenyltransferases.Graphical abstract

CASE STUDY OF INNOVATION BUSINESS MODEL TO PROMOTE SUSTAINABLE AGRICULTURE OF PRIVATE FARM IN TAIWAN

This study investigation modern sustainable agricultural business model of private farm in Taiwan. Enter the real field, understand the rural environment on the spot, and hope to bring substantial help to the current agricultural environment in Taiwan. Conduct Zhang-Jia farm as the case, based on local ecology, production and life to analyse the management characteristics of the farm. Combine with the theory of ideas explored in the literature to verify the relevance of its actual mode of operation and goals. Observe the local tribal ecology and industrial context to find problems, and compile various conceptual factors that affect the sustainable development of Taiwan's agriculture based on the literature. Through developing organic agriculture, promoting leisure agriculture, developing diversified agricultural products, promoting food agricultural education, and organized production and marketing groups as strategies. Through diversification activities, construct a field environmental relationship brimming with "agricultural production", "peasant life" and "rural ecology", and practice the concept of respect for nature. To maintain the survival of the farm and leave a beautiful homeland, further to increase agricultural production, increase income, maintain natural ecology, create the best areas for farming and living, attract more young people to return to the countryside, and to promote sustainable agriculture in Taiwan.

Reterritorialisation of agricultural activities in land-use and food planning: comparing the Netherlands and France

ABSTRACT The reterritorialisation of agricultural activities (RAA) consists of reinforcing local food production and its diversification activities oriented toward local consumers. RAA helps shape the local food system, which is an increasingly studied topic in the planning field. However, institutional impacts on planning approaches for RAA remain unknown. This study examines this question by comparing land-use and food planning in Dutch and French cases, where France defines food planning via national law and the Netherlands does not. Through analysis of planning documents and semi-structured interviews, we identified planning goals and instruments, and analysed governance models. We then linked these three components to understand institutional impacts. Our empirical findings reveal that regarding planning policies on RAA, there are differences between the two countries in terms of focused action fields, planning instruments, and links between land-use and food planning. Our results show that the dominance of state-local relationships in France and civil society-government relationships in the Netherlands has a significant effect on planning approaches. This study supports the need for an emphasis on institutional design for effective planning for RAA.

Diversity, Equity, Inclusion, and Health Inequities Training in Neurologic Disorders and Stroke: Analysis and Recommendations From the NINDS Advisory Council Working Group.

In 2020, the National Institute of Neurological Disorders and Stroke (NINDS) leadership asked its Advisory Council to review NINDS efforts in the domains of diversity, equity, inclusion, and health inequities. Part of these efforts involved a focus on health equity training and health equity research workforce diversification activities. The objective of this article was to summarize the findings and make recommendations regarding these training activities. A subgroup of the National Advisory Neurological Disorders and Stroke Council Working Group for Health Disparities and Inequities in Neurological Disorders was engaged to advise NINDS leadership in the domain of diversity in health equity training. Activities included video teleconference meetings, multiple consultations with experienced leaders in the field, independent writing assignments, and an open public discussion as part of the NINDS HEADWAY workshop held on September 22-24, 2021. The working group recommends support for 2 distinct types of training activities: one designed for scientists from historically under-represented backgrounds and the second designed for scientists of all backgrounds performing health inequities research. Support for grant writing workshops and establishment of multi-institutional mentorship networks are recommended as potentially especially high-yield activities. The working group recommends that all NINDS-supported investigators should have sufficient diversity, equity, and inclusion training to be prepared and qualified to mentor trainees from under-represented backgrounds and mentor trainees engaged in health disparities research; there should be no "diversity tax" placed on established investigators from under-represented backgrounds to shoulder all the mentorship responsibilities. Among other recommendations, training in health disparities research should include a focus on interventional studies to alleviate inequities as well as social science and qualitative methods. There is a great deal of work to do in the field of diversity, equity, inclusion, and health inequities training, but we are optimistic that the activities outlined here, if fully implemented, will set us on the right track.

Diversification Strategy and Performance of Processing Firms: A Case Study of Diamond Foods in California, USA

Diversification strategy refers to the expansion of a firm's product offerings or entry into new markets beyond its existing core business. It is aimed at reducing risks, capitalizing on growth opportunities, and enhancing the overall performance of the firm. The impact of diversification on performance varies depending on various factors such as the industry, market dynamics, strategic alignment, resource allocation, and customer perception. Successful diversification strategies can lead to increased revenue streams, market share expansion, enhanced brand equity, and improved operational efficiency. However, the effectiveness of diversification ultimately depends on careful planning, strategic decision-making, and continuous monitoring of performance metrics. The study used the descriptive research design. The target population was 30 heads of departments in the Diamond Foods California, USA.  The study did sampling of 25 respondents that were selected from the target population of 30 heads of departments in the Diamond Foods California, USA. Questionnaires were used to collect the data. It was concluded that through an analysis of Diamond Foods' diversification activities, it was evident that the company had pursued a strategic approach aimed at expanding its product portfolio and entering new markets beyond its core nut processing business. The study highlighted the importance of maintaining a strong brand identity and customer loyalty when diversifying, as it can be a challenge to ensure consistent quality and customer satisfaction across diverse product offerings. The study recommended that it is crucial for firms to conduct a thorough analysis of the market dynamics and competitive landscape before embarking on diversification. These firms should prioritize strategic alignment and resource allocation when diversifying. Processing firms should prioritize maintaining a strong brand identity and consistent quality across diverse product offerings. Firms should actively seek customer feedback and adapt their diversification strategy based on consumer preferences and market demands. Keywords: diversification strategy, performance, Processing Firms, California

Enhancing bank stability from diversification and digitalization perspective in ASEAN

PurposeThe financial sector's resilience is associated with greater prosperity and a better average income. Banks have evolved their business model and diversified their sources of income, and bank digitalization has become one of the prominent strategies. The purpose of this study is to examine how bank service expansion represented by revenue diversification activities and digital strategy will enhance bank stability in ASEAN countries from 2010 to 2021.Design/methodology/approachThis study uses information from the Datastream database and banks’ annual reports to measure bank stability, diversification and market power, which also provide information for bank digital strategy. This study uses the two-step system generalized method of moments to investigate the effect of diversification and digitalization on bank stability in ASEAN.FindingsThe results of this study show that bank revenue diversification has no effect on bank stability, and the presence of the chief digital officer and digital disclosure improves banks’ stability. However, alliance strategy with financial technology companies does not significantly impact bank stability and might increase bank risk.Practical implicationsThe findings of this study provide relevant policy implications: the regulation should support bank business to diversify the source of income; regulators and policymakers should regulate and enhance the Information and Communication Technology infrastructure; and banks should design their strategy comprehensively.Originality/valueThis study provides new evidence of the essential role of digital strategy in enhancing bank stability in ASEAN. In addition, this study also shows how banks diversify their business in a competitive environment.

Why “formal” climate adaptation strategies fail in sub‐Saharan Africa: Ignoring adapters’ agency in the case of smallholding agriculture farming practices in Bono East Region of Ghana

AbstractThis paper reviewed a body of literature on climate adaptation options in sub‐Saharan Africa's (SSA) smallholding agriculture and complemented it with a case study involving experts interviews, focus group discussions, large‐scale household surveys, and farmer practices observation while drawing insight from the concept of “everyday adaptation and interrupted agency” and agency theory to assess farmer perceived limitations with climate‐smart agriculture (CSA) and climate‐wise food systems (CWFS) practices for climate adaptation in the SSA. The study noted that the narrow focus on CSA and/or CWFS as a silver bullet for climate change adaptation suitable for smallholding agriculture ignores food producers’ agency to undermine sustainable and inclusive adaptation solutions. Moreover, smallholder farmers’ everyday climate adaptation practices could be grouped into three categories; on‐farm adaptation, off‐farm adaptation, and Indigenous agroecological adaptation options. The on‐farm adaptation options are usually agriculture intensification and extensification. The off‐farm adaptation options include livelihood diversification activities, petty trading, seasonal labor jobs, and migration. The Indigenous agroecological adaptation strategy uses observing nature and weather elements to predict the onset of the rainy season. The study noted that smallholders’ adaptation options, which is an expression of their agency, are motivated by smallholders’ desire to be resilient to changing climate, increase productivity and income, and social network influence but not necessarily because the strategy is being promoted by the government or Non‐Governmental Organizations (NGOs). Therefore, we propose a sustainable food agency (SFA)—a multifaceted blended constellation of climate adaptation and mitigation strategies, as the best approach to addressing the climate crises in the SSA. The SFA allows individuals or groups to decide what climate change adaptation options best work for them to adapt to changing climate and produce and distribute their food without undermining the economic, social, and environmental bases that generate food security and nutrition for present and future generations.

Bank diversification and ESG activities: A global perspective

The present study uses data from 1385 banks in 89 countries from 2009 to 2020 to analyze whether the banks’ environmental, social, and governance (ESG) activities around the world affect their diversification. We use a two-step system dynamic generalized method of moments technique and find that the relationship between ESG activity and bank diversification is nonlinear. Environmental and social factors negatively impact bank diversification, whereas governance has a positive impact. Bank diversification is affected by ESG overall and individual ESG dimensions more in developed countries. In high-income countries, banks generate more scope for diversification through environmental disclosures. The social activities of the executive management and the board of directors in high-income countries are intended more to satisfy their own needs than those of their banks. Governance disclosure increases income and asset diversification more for banks in high- and upper-middle-income countries. Capitalization, management quality, and liquidity are the channels through which ESG affects bank diversification. We argue that policy makers and regulators need to design and implement tailor-made frameworks and incentivize banks to embrace sustainable finance best practices. The adoption of these practices and the financing of socially responsible projects would drive interest by various stakeholders and thereby attract higher investor interest and bank valuation.

Rural Households’ Livelihood Diversification Activities: A Case Study from Borena District, North Central Ethiopia

In Ethiopia, farm households are not adequately engage and pursue diverse livelihood activities to cope with various challenges due to livelihood asset crisis and persistent cultural bottle neck. Thus, the main purpose of this study was to identify the rural households’ livelihood diversification activities in Borena district, north central Ethiopia. The study follows a pragmatism paradigm with a cross sectional study design. The required data were drawn both from primary and secondary sources. The study used multistage sampling procedure, involving a combination of purposive and random sampling techniques to select 358 sample household heads. Household sample surveys, key informant interviews and focus group discussions were the principal means used to acquire primary data. In analyzing and interpreting the primary data, quantitative research techniques was employed. Percentages, mean and standard deviation were employed to analyze the quantitative data while thematic narration techniques were used to analyses the qualitative data. The result indicate that slightly more than one-third (33.8%), one-fourth (26.5%) and nearly half (49.7%) of the respondents were engaged exclusively in on-farm, off-farm and non-farm activities, respectively. Thus, policy makers need to intervene in the highest possible means of livelihood diversification while designing and reforming strategies related to diversification of livelihoods.

Beyond the bean: Analyzing diversified farming, food security, dietary diversity, and gender in Nicaragua’s smallholders coffee cooperatives

ABSTRACT Diversification is key for agroecological transformations, but little is known about how it relates to farmers’ dietary diversity and food sovereignty. Our team and coffee cooperative staff conducted a participatory action research mixed methods study, including 171 surveys and 50 interviews. Over 70% of the farmers reported self-initiated diversification activities. Statistical analysis showed a significant positive correlation between crop diversity and dietary diversity, while controlling for farm size and income. To assess gender relations females responded to 41% of the surveys, and we separated focus groups by sex. Average male-owned farms were 1.8 ha larger than women-owned farms, yet we found no significant differences in household food security or dietary diversity. Additional disparities included male vs. female perceptions about who does additional diversification work and who decides about strategies. Although the co-op has a strong gender equity and technical assistance program, our analysis of extension training documents identified useful content and a smaller percent of female participants in diversification vs. gender sessions. Suggested strategic actions for co-op planning include supporting: (1) female land ownership, (2) diversification focused farmer-led experimentation, and (3) more training for men on gender, women on diversification, and all participants in feminist agroecology.

Drivers of income diversification among rural households in the Ethiopian central highlands

AbstractAs in most developing countries, farm households in Ethiopia are often engaged in several income diversification activities to mitigate several risks and uncertainties faced by agriculture and address poverty and food insecurity. The benefits of income diversification have been widely documented in the literature. However, little econometric evidence exists on the drivers of income diversification among farm households in Ethiopia. The paper addresses this information gap by investigating the drivers of choice decisions and intensity of income diversification among farm households using data collected from a sample of 385 randomly selected households from the Ethiopian central highlands. Unlike previous studies, our multivariate probit model results show that the choice decision of farm households is significantly interrelated and drivers had heterogeneous effects on the choice decision of households. The findings revealed that age, education, livestock, land, food shortage, agricultural commercialization cluster (ACC), investment in sustainable farming practices, rainfall, and maximum temperature significantly impacted the choice of income diversification. The fractional response logit model results revealed that age, livestock, food shortage, joint household decision‐making, ACC, income, rainfall, and study site significantly impacted the intensity of income diversification. The descriptive results revealed that most farmers (67%) tend to have a more diversified portfolio of income including off‐farm, forest, non‐farm, livestock, crop, and other sources, and the intensity of diversification ranges between 0 and 0.76. The study also finds the presence of both synergies and trade‐offs in different types of diversification. We suggest that there is an urgent need to improve the ways of income diversification among farm households to both the sustainability of small farms and ensure food security.

ANALYSIS OF CAPITAL SOURCES AND BUSINESS CAPITAL MANAGEMENT IN UMKM PASTRIES TO MAK NI NORTH ACEH

The purpose of this study is to find out and analysis where and how the source of capital and the management of business capital by Umkm.the object of this study is Umkm in makni. This research uses the technique of Participation Observation, and formal interviews as for the results of this study are Umkm get a source of capital from business accelerator cooperation with PT. Global energy development (PGE), and the way capital management is carried out in the form of business diversification activities which is also one of the ways of developing MSME businesses towards mak ni.

Photovoltaic Companies on the Warsaw Stock Exchange—Another Speculative Bubble or a Sign of the Times?

Renewable energy sources are an attractive alternative to fossil fuels for several reasons. Firstly, these are ecological arguments, mainly reducing greenhouse gas emissions. Secondly, there are legal issues, particularly the obligations of the European Community countries in the field of climate as part of the implementation of the European Green Deal and the joint achievement of 40% of energy from renewable sources by 2030. Thirdly, these are international issues, primarily regarding reducing dependence on uncertain oil or gas markets. And finally, they may be economic reasons, such as diversification of energy supplies and associated costs, as well as opportunities for profits on the capital market. In Poland, over the last decade, a certain kind of boom in photovoltaics has been visible, both in terms of the number of companies dealing with solar collectors, as well as the annual increase in new capacity, or the level of installed capacity. Also, on the Warsaw Stock Exchange, photovoltaic companies have introduced much confusion in the tier of quotations in recent years. Solar energy has become a kind of gateway for companies to increase their results, stock exchange quotations, or acquire new customers. It is not surprising that more and more investors want to invest their money in this segment. Given the above, this article attempts to answer the question: Is there a risk of a stock market bubble among photovoltaic companies in the near future? For this purpose, we used the financial indicators of photovoltaic companies listed on the Warsaw Stock Exchange, and with the help of the Taxonomic Measure of Attractiveness of Investments, we created rankings of the investment attractiveness of these companies in 2017-2019. The leaders include companies listed on the main market as well as in the alternative trading system of the Warsaw Stock Exchange. It should be borne in mind that regardless of the undertaken diversification and analytical activities, the risk of an investment bubble has been and will remain an indispensable element in the functioning of every capital market in the world.

Corporate diversification and firm's financial performance: an empirical evidence from Indian IT sector

The aim of this research paper is to provide empirical evidence on the effect of geographic and segment diversification on the financial performance of the Indian IT sector. The study was done on 12 listed IT firms representing 93% market share on BSE/NSE. Standard econometric regression analysis on panel data was carried out to find the stated relationship. The results of the regression analysis revealed that international/geographic diversification impacted strongly on IT firms' profitability whereas product/segment diversification had no significant impact on the firms' profitability. This study also proves the existence of demand for Indian IT sector in other countries. These results could be useful in decision making for top managers of IT companies as they advocate the need for diversification (specialisation) and growth in size and also provide encouragement to small-scale Indian IT companies to undertake international diversification activities with confidence.