One of the kinds of strategies that organizations can adopt to develop their business, is conglomerate Diversification strategy. The right selection this strategy when organizations have high financial and managerial ability, will increases organization competitive advantage. This study aims to prioritize and selection the best conglomerate Diversification strategy for andishe gostar khayyam firm due SWOT analysis. This firm due to its high ability to manage the company, has decided to establish a new business. To achieve this goal, in this study, ANP and Dematel techniques in fuzzy coditions is used. In this study, the interviews with the experts and the firm's strengths and weaknesses and the opportunities and threats that affecting in the selection strategy were determined. Then the network model for investigation due current literature and determined factors was drew and The investigation questionnaire was distributed between experts. Ultimately, the best conglomerate Diversification strategy obtained and results for administration sent and the firm implement selected strategy.

The purpose of this study was to investigate the impact of Diversification strategy to reduce the risk of bankruptcy of the firms listed in the Tehran Stock Exchange. In this regard, the two criteria of business is used commercial and geographical Diversification as a measure of Diversification strategy. To measure the bankruptcy risk of firms has been used of discriminant analysis model. Tehran stock exchange listed firms constitute statistical population of the research and the sample was selected imposing conditions of the research variables to 88 firms during 2011-2016. Statistical technique of panel data regression was used to analyze data and test the hypotheses. According to the results, the bankruptcy risk decreases by increasing commercial Diversification. In fact, investigated companies to implementation diversified product strategy can increase their share of the market and reduce the bankruptcy risk. The results also show there isn't a significant relation between the geographical Diversification and bankruptcy risk.

bjective: the earning management literature attempts to understand why managers manipulate earnings, how they do so and the consequences of this treatment. These questions are the focus on a significant area of inquiry within financial reporting research. one of the important factors affecting earning management can be Diversification strategy. Therefore the purpose of this paper is to investigate whether Diversification strategy, by making an explicit distinction between business and geographic Diversification, provides a favorable environment for earnings management or whether it mitigates this phenomenon. Method: the research in terms of objectives is practical and nature of method investigating variables is correlation. the research based on a sample of 97 companies from listed companies in Tehran Stock Exchange over the period 2009– 2017 and making an explicit distinction between industrial and geographic Diversification, multivariate regression model based on panel data are used to test whether Diversification strategy has an impact on earnings management. the study makes use of discretionary accruals as a proxy for earnings management and the modified Jones model is used to measure discretionary accruals. Results: the findings of the study reveal that business and geographic Diversification by itself haven’ t any significant impact on earnings management but a combination of business and geographic Diversification mitigates this phenomenon. Conclusion: the results of the study revealed the evidence in support of the portfolio theory and risk-reducing theory, because the theories argue negative relationship among earnings management and Diversification strategy. Contribution: since to examine the relationship between Diversification strategy and earning management an explicit distinction has considered between industrial and geographic Diversification and also combination of industrial and geographic Diversification is the innovation of this research.

Objective: The purpose of this study is to find mechanisms for adopting and implementing Diversification strategies in Iranian multi-business companies in the form of content, context and process models. The owners of multi-business companies will be able to adopt an appropriate strategy in dealing with the future investment opportunities based on these mechanisms. They can also properly manage the organization and reduce the risk of value degradation through recognizing and examining various causal, underlying, and intervening conditions of this strategy. Therefore, the main question is that “ what is the nature of the Diversification strategy mechanisms in Iranian multi-business companies” . Methodology: This research is an exploratory research in terms of purpose and has been conducted based on descriptive and survey appraoch. The data were collected through a qualitative method and in-depth interviews with senior managers. They were then analyzed using the systematic grounded theory method. The statistical population includes the managers and senior experts in the field of strategy in Iranian multi-business companies who participated in the Diversification process and decisions in their organizations. Theoretical saturation was obtained uisng integrated purposeful and snowball sampling after 25 in-depth interviews. In this study, the interviews were conducted with the managers from Golrang Industrial Group, Golestan Industrial Group, Kourosh Investment Group, Ariana Industrial Group, Padideh Paydar Holding, Middle East Investment Group, and Rahmani Industrial Group. The data were collected from March 2017 to March 2019. Findings: The results of the data analysis indicates that the causal conditions of individual incentive (the concepts such as seeking power, maximum role-playing in the success of the company, fulfilling social responsibility-especially the first generation, as well as gaining prestige and social prestige); organizational incentive (the concepts of growth of human resource development, division and balance of power in the organization, the organizations’ intellectual assets such as brand, and the organizations’ knowledge assets); economic incentive (the concepts of limited size and growth of the existing industries, achieving development prospects, financial and cost convergences, wide range and the possibility of taking advantage of opportunities in other industries, exploiting macro-opportunities and the transformation of political-economic threats into opportunities, political-economic constraints for the initial business, non-outflow of liquidity, and exploitation of special opportunities); reduction of risks (the concepts of diversifying the flow of profitability, avoiding the threats and confrontations with powerful institutions, bankruptcy, covering business fluctuations, avoiding threats to the immediate environment); as well as intervening conditions can shape the degree of stability of the macro environment, the facilitating institutions, the status of supporting laws and policies, and the environment which is prone to special opportunities, business Diversification in the context of maturity in the organizational life cycle, organizational resources, capabilities of the organization, senior managers’ strategic skills and thinking as well as the organizational strategic orientations. This phenomenon is implemented through option-making, option-selecting, defining entry strategy, holding, institutionalization, and systematization. It can also lead to positive consequences such as higher financial performance, reduction of risks, strength, growth and development and etc. Conclusion: Completing the value chain including front and back integrations and entering into other core value chain businesses, is regarded as a major part of the organizations’ Diversification activities. The Diversification is successful in immediate businesses because the company is relatively familiar with their business principles and models. The transformation of intra-company services such as business services and advertising into independent businesses due to competency and vacancy indicates endogenous growth and diversity. These factors, along with supporting other companies and heterogeneous Diversification, can form Diversification strategy. For the successful implementation of the Diversification strategy, it is necessary to pay comprehensive attention to the 27 important categories and the related concepts, and to use them properly with full awareness.

The relationship between diversity and firm profitability represents a subject of considerable importance within the fields of strategic and financial management. The role of Diversification strategy as a catalyst for competitive strategies has confirmed in the literature. This role becomes obvious in terms of the Diversification benefits in enhancing the profitability of firms. The goal of this article is to study the effect of Diversification strategy on the profitability of companies listed in Tehran Stock Exchange. This research sample includes 78 companies of Tehran Stock exchange during 1387 to 1392 that it has selected by using systematic sampling method. In this study if the firm has the subsidiary unit, it will consider as a diversified firm. To test the research hypothesis have analyzed the multivariate regression models based on panel data. The findings reveal that the strategy of Diversification has a positive and significant impact on profitability measures of return on sales and return on total assets.

The purpose of this paper is to examine the effect of the board characteristics and the management entrenchment on the Diversification strategy at firms listed in Tehran Stock Exchange. In this regard, 110 companies were selected for the period 2008-2014. Panel data method was used to test the hypotheses. In order to examine board characteristics, board size and board independence proxies and to review the management entrenchment, CEO duality, managerial ownership and over investment risk were used. For measuring corporate Diversification, Herfindahl and entropy were used. The results show that the size and independence board have negative and positive effects on corporate Diversification. This means that company Diversification is at high level with large boards and low independent board members. The results show that the CEO duality and the increase of over investment risk have a positive effect on corporate Diversification, while managerial ownership has no effect on Diversification. The results are consistent with agency theory. According to this theory, the increase in the conflict between shareholders and managers makes the internal managers motivated for opportunistic behavior in order to diversify their enterprise.

Diversification and return's relationship is a question that every bank faces with it. It is a routin issue that the bank should answer to it. This study also seeks to evaluate the relationship between Diversification and return. The sample of study is 10 banks included Saderat, Mellat, Tejarat, Parsian, Eghtesad Novin, Pasargad, Sina, Hekmat, Day, Sarmaye, Post bank, and Karafrin. The period of study was from 2011 to 2015. Herfindal Herishman index (HHI) was used as the proxy of Diversification and two kinds of return included return of assets (ROA) and return on equity (ROE). The multiple regression is used and estimated by estimated generalized least squares (EGLS). The results showed that there was a significant and adverse relationship between Diversification of assets and ROA. Also, there wasn't a significant relationship between Diversification of loans and ROA. Furthermore, there wasn't a significant relationship between Diversification of loans and assets with ROE.

Firm managers seek a way to improve their firm performance. One way is to use Diversification strategy which creates range of business activities for the firms and leads to a better performance. This study examines the effect of Diversification strategy on performance of 87 companies listed on Tehran Stock Exchange from 2010 to 2014. The main objective of this study is to investigate the non-liner relationship between Diversification strategy and profitability of business units by sorting it into its related and unrelated components. In this study, multivariate linear regression model is used to test the hypotheses. The statistical method is Panel Data. The results showed that there is a curve-shaped relationship between Diversification and profitability of business units; that is, profitability decreases at low levels of related Diversification and increases at its high levels; also profitability increases at low levels of unrelated Diversification and decreases at its high levels.

Beekeeping on rangelands is considered as a key approach for sustaining pastoral livelihood and reducing pressure on grazing lands. Previous studies are mostly focused on the ecological contributors of apiculture and the social criteria are not treated in much detail. The current research, therefore, uses the case of Sarayan Arid Rangelands in northeast Iran to examine the importance of social capital in adaptation of beekeeping as a pastoral livelihood Diversification strategy. Through a random sampling procedure, 180 herders were selected in the study area. Questionnaires were used to collect data on trusts, collaboration, and solidarity as the main determinants of social capital and also herders' interests in beekeeping. Stepwise linear regression method was employed to estimate the relation between herders' interest in beekeeping and their social capital. The results show that about 33% in variance of motivation on beekeeping as a livelihood Diversification strategy could be explained by the cooperation, trust, and solidarity among the rangeland users. Therefore, it is vital to introduce policies and measures to support collaboration and social networks among the rangeland users.