Abigail Hornstein, associate professor of economics, and her former thesis student, Zachary Nguyen '12 are the co-authors of a paper titled "Is More Less? Propensity to Diversify via M&A and Market" published in the International Review of Financial Analysis, June 2014, pp. 64-88. Mergers and acquisitions (M&A) could lead to a firm diversifying into new industries, and the impact of this may be related to the firm’s prior diversification. By using a panel of 1,030 M&A transactions from 2000-2010, Hornstein and Nguyen found that that previously diversified firms are more likely to pursue industrially diversifying M&A. "Both previous and contemporary diversification…