The article explores whether, and to what extent, several trends that have taken place in most higher education systems in the last few decades--such as massification, privatization, increased competition for students and for research funds--stimulate more diversity between institutions. This question is widely debated, both empirically and theoretically. Using Italian data, the dynamics of organizational diversity are analysed with respect to several features of higher education institutions, namely: (1) size, (2) specialization, and (3) mission orientation. This multidimensional approach offers some interesting results, both in their own right as well as in a comparative perspective with studies that have investigated similar issues in other countries. (Contains 8 tables and 4 figures.)