Advanced Search
MyIDEAS: Login to save this paper or follow this series

What does it take to be good parent ? Opening the black-box of value creation in the unrealated multibusiness firm

Contents:

Author Info

  • Olivier, Gottschalg

    ()

  • Meier, Degenhard

    ()

Registered author(s):

    Abstract

    This 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 Info

    If 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.
    File URL: http://www.hec.fr/var/fre/storage/original/application/4c1b667c0dab434a70346a39f61bd949.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 822.

    as in new window
    Length: 49 pages
    Date of creation: 30 Mar 2006
    Date of revision:
    Handle: RePEc:ebg:heccah:0822

    Contact details of provider:
    Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
    Web page: http://www.hec.fr/
    More information through EDIRC

    Related research

    Keywords: diversification; private equity; management buyout; leveraged buyout; resource-based view; parenting effect; conglomerate;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    References listed on IDEAS
    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.:
    as in new window
    1. 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.
    2. Bruining, H. & Wright, D.M., 2002. "Entrepreneurial Orientation In Management Buy-Outs And The Contribution Of Venture Capital," ERIM Report Series Research in Management, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasm 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 University Rotterdam.
    3. JS Armstrong & Terry Overton, 2005. "Estimating Nonresponse Bias in Mail Surveys," General Economics and Teaching, EconWPA 0502044, EconWPA.
    4. Gottschalg, Oliver & Berg, Achim, 2005. "Understanding value generation in buyouts," Les Cahiers de Recherche, HEC Paris 824, HEC Paris.
    5. 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, Elsevier, vol. 59(1), pages 101-147, January.
    6. Jensen, Michael C. & Ruback, Richard S., 1983. "The market for corporate control : The scientific evidence," Journal of Financial Economics, Elsevier, Elsevier, vol. 11(1-4), pages 5-50, April.
    7. Cynthia A. Montgomery & Birger Wernerfelt, 1988. "Diversification, Ricardian Rents, and Tobin's q," RAND Journal of Economics, The RAND Corporation, vol. 19(4), pages 623-632, Winter.
    8. 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.
    9. Robbie, K & Wright, M & Thompson, S, 1992. "Management buy-ins in the UK," Omega, Elsevier, Elsevier, vol. 20(4), pages 445-456, July.
    10. 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.
    11. Bull, Ivan, 1989. "Financial performance of leveraged buyouts: An empirical analysis," Journal of Business Venturing, Elsevier, vol. 4(4), pages 263-279, July.
    12. Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, INFORMS, vol. 32(10), pages 1231-1241, October.
    13. Pennings, J.M. & Barkema , H. & Douma, S., 1994. "Organizational learning and diversification," Open Access publications from Tilburg University, Tilburg University urn:nbn:nl:ui:12-382776, Tilburg University.
    14. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, INFORMS, vol. 35(12), pages 1504-1511, December.
    15. Smith, Abbie J., 1990. "Corporate ownership structure and performance *1: The case of management buyouts," Journal of Financial Economics, Elsevier, Elsevier, vol. 27(1), pages 143-164, September.
    16. Michael C. Jensen, 2010. "Active Investors, LBOs, and the Privatization of Bankruptcy," Journal of Applied Corporate Finance, Morgan Stanley, Morgan Stanley, vol. 22(1), pages 77-85.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ebg:heccah:0822. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sandra Dupouy).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.