We explore the antecedents of corporate spin-offs for a sample of 3462 Spanish firms between 1992 and 2002. Using a resource-based approach, we identify three reasons firms engage in spin-offs: (a) to create complementarities, (b) to appropriate residual rents, and (c) to focus on the core business. Specifically, we find that spin-offs are more common among firms that belong to a group able to create networks and new knowledge that can be exploited through spin-offs. In addition, we find that spin-offs are more frequent in firms that wish to exploit strategic advantages achieved through knowledge investments and in firms that increase efforts to the focus on the parent firm's core competences.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Publisher Info
Article provided by Elsevier in its journal Research Policy.
Volume (Year): 37 (2008) Issue (Month): 6-7 (July) Pages: 1047-1056 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF