...Amanjot Singh Purpose This study examines the impact of the aggregate trade counterparty premium on the excess value of diversified firms, i.e. the value of diversified firms relative to imputed single-segment benchmarks. Design/methodology/approach Our study employs a panel dataset of US...

... uncertainty for diversified firm investors. We consider several alternative specifications to account for unobserved factors and measurement errors that could potentially bias our results. In particular, we use alternative measures of the excess value of diversified firms and oil price uncertainty, additional...