What does it take to be good parent ? Opening the black-box of value creation in the unrealated multibusiness firm
AbstractThis paper develops and tests new theory about the determinants of value creation in unrelated multibusiness firms from a resource-based perspective. The authors argue that the availability of "headquarter resources", which are at the basis of headquarter services provided to the business units, is the driving force behind unrelated diversification.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. 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.
Bibliographic InfoPaper provided by HEC Paris in its series Les Cahiers de Recherche with number 822.
Length: 49 pages
Date of creation: 30 Mar 2006
Date of revision:
diversification; private equity; management buyout; leveraged buyout; resource-based view; parenting effect; conglomerate;
Find related papers by JEL classification:
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
- M10 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - General
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-04-01 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chandler, Gaylen N. & Hanks, Steven H., 1993. "Measuring the performance of emerging businesses: A validation study," Journal of Business Venturing, Elsevier, vol. 8(5), pages 391-408, September.
- Jensen, Michael C. & Ruback, Richard S., 1983. "The market for corporate control : The scientific evidence," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 5-50, April.
- Pennings, J.M. & Barkema , H. & Douma, S., 1994. "Organizational learning and diversification," Open Access publications from Tilburg University urn:nbn:nl:ui:12-382776, Tilburg University.
- Bruining, J. & Wright, D.M., 2002. "Entrepreneurial Orientation In Management Buy-Outs And The Contribution Of Venture Capital," Research Paper ERS-2002-67-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, vol. 35(12), pages 1504-1511, December.
- Brush, Candida G. & Vanderwerf, Pieter A., 1992. "A comparison of methods and sources for obtaining estimates of new venture performance," Journal of Business Venturing, Elsevier, vol. 7(2), pages 157-170, March.
- JS Armstrong & Terry Overton, 2005. "Estimating Nonresponse Bias in Mail Surveys," General Economics and Teaching 0502044, EconWPA.
- Michael C. Jensen, 1989.
"Active Investors, LBOs, and the Privatization of Bankruptcy,"
Journal of Applied Corporate Finance,
Morgan Stanley, vol. 2(1), pages 35-44.
- Michael C. Jensen, 2010. "Active Investors, LBOs, and the Privatization of Bankruptcy," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 77-85.
- Gottschalg, Oliver & Berg, Achim, 2005. "Understanding value generation in buyouts," Les Cahiers de Recherche 824, HEC Paris.
- Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, vol. 32(10), pages 1231-1241, October.
- Cotter, James F. & Peck, Sarah W., 2001. "The structure of debt and active equity investors: The case of the buyout specialist," Journal of Financial Economics, Elsevier, vol. 59(1), pages 101-147, January.
- Robbie, K & Wright, M & Thompson, S, 1992. "Management buy-ins in the UK," Omega, Elsevier, vol. 20(4), pages 445-456, July.
- Macmillan, Ian C. & Kulow, David M. & Khoylian, Roubina, 1989. "Venture capitalists' involvement in their investments: Extent and performance," Journal of Business Venturing, Elsevier, vol. 4(1), pages 27-47, January.
- Bull, Ivan, 1989. "Financial performance of leveraged buyouts: An empirical analysis," Journal of Business Venturing, Elsevier, vol. 4(4), pages 263-279, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sandra Dupouy).
If references are entirely missing, you can add them using this form.