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Intra-Industry Spinoffs

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Author Info
Peter Thompson () (Department of Economics, Florida International University)
Steven Klepper () (Department of Social and Decision Sciences, Carnegie Mellon University)

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Abstract

A growing empirical literature on spinoff formation has begun to reveal some striking regularities about which firms are most likely to spawn spinoffs, when they are most likely to spawn them, and the relationship between the quality of the parent firm and its spinoffs. Deeper investigations into the causes of spinoffs have highlighted the importance of strategic disagreements in driving some employees to resign and found a new venture. Motivated by this literature, we construct a new theory of spinoff formation driven by strategic disagreements, and show how the theory can explain the emerging empirical regularities.

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File URL: http://www.fiu.edu/orgs/economics/wp2006/06-05.pdf
File Format: application/pdf
File Function: Revised version, 2006
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Publisher Info
Paper provided by Florida International University, Department of Economics in its series Working Papers with number 0605.

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Length: 38 pages
Date of creation: Jun 2006
Date of revision:
Handle: RePEc:fiu:wpaper:0605

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Postal: Miami, FL 33199
Phone: (305) 348-2316
Fax: (305) 348-1524
Web page: http://www.fiu.edu/orgs/economics/
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Related research
Keywords: Spinoffs; learning; strategic disagreement;

Find related papers by JEL classification:
L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

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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.:
  1. Hellmann, Thomas F., 2002. "When Do Employees Become Entrepreneurs?," Research Papers 1770, Stanford University, Graduate School of Business. [Downloadable!]
  2. Wiggins, Steven N, 1995. "Entrepreneurial Enterprises, Endogenous Ownership, and the Limits to Firm Size," Economic Inquiry, Oxford University Press, vol. 33(1), pages 54-69, January.
  3. S. Klepper & S. Sleeper, 2002. "Entry by Spinoffs," Papers on Economics and Evolution 2002-07, Max Planck Institute of Economics, Evolutionary Economics Group.
  4. Denis Gromb & David Scharfstein, 2002. "Entrepreneurship in Equilibrium," NBER Working Papers 9001, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. John Geanakoplos & Heracles M. Polemarchakis, 1982. "We Can't Disagree Forever," Cowles Foundation Discussion Papers 639, Cowles Foundation, Yale University. [Downloadable!]
  6. April Mitchell Franco & Darren Filson, 2000. "Knowledge diffusion through employee mobility," Staff Report 272, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  7. Geanakoplos, John D. & Polemarchakis, Heraklis M., 1982. "We can't disagree forever," Journal of Economic Theory, Elsevier, vol. 28(1), pages 192-200, October. [Downloadable!] (restricted)
  8. Pakes, Ariel & Nitzan, Shmuel, 1983. "Optimum Contracts for Research Personnel, Research Employment, and the Establishment of "Rival" Enterprises," Journal of Labor Economics, University of Chicago Press, vol. 1(4), pages 345-65, October. [Downloadable!] (restricted)
    Other versions:
  9. G. Buenstorf & S. Klepper, 2005. "Heritage and Agglomeration: The Akron Tire Cluster Revisited," Papers on Economics and Evolution 2005-08, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
    Other versions:
  10. Choi, Changsun & Nam, Dougu, 2003. "Some boundary-crossing results for linear diffusion processes," Statistics & Probability Letters, Elsevier, vol. 62(3), pages 281-291, April. [Downloadable!] (restricted)
  11. Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
  12. Klepper, Steven, 1996. "Entry, Exit, Growth, and Innovation over the Product Life Cycle," American Economic Review, American Economic Association, vol. 86(3), pages 562-83, June. [Downloadable!] (restricted)
  13. Cassiman , Bruno & Ueda, Masako, 2002. "Optimal project rejection and new firm start-ups," IESE Research Papers D/460, IESE Business School. [Downloadable!]
    Other versions:
  14. Anton, James J & Yao, Dennis A, 1995. "Start-ups, Spin-offs, and Internal Projects," Journal of Law, Economics and Organization, Oxford University Press, vol. 11(2), pages 362-78, October.
  15. Steven Klepper, 2002. "Firm Survival and the Evolution of Oligopoly," RAND Journal of Economics, The RAND Corporation, vol. 33(1), pages 37-61, Spring.
Full references

Cited by:
(explanations, 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.)

  1. Steven Klepper, 2007. "A Shop Floor View of Growth in Turn-of-the-Century Cleveland," Capitalism and Society, Berkeley Electronic Press, vol. 1(3), pages 6. [Downloadable!] (restricted)
  2. Guido Buenstorf, 2007. "Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry," Review of Industrial Organization, Springer, vol. 30(3), pages 179-202, May. [Downloadable!] (restricted)
    Other versions:
  3. Guido Buenstorf & Dirk Fornahl, 2009. "B2C—bubble to cluster: the dot-com boom, spin-off entrepreneurship, and regional agglomeration," Journal of Evolutionary Economics, Springer, vol. 19(3), pages 349-378, June. [Downloadable!] (restricted)
  4. G. Buenstorf & D. Fornahl, 2006. "B2C - Bubble to Cluster: The Dot.com Boom, Spin-off Entrepreneurship, and Regional Industry Evolution," Papers on Economics and Evolution 2006-20, Max Planck Institute of Economics, Evolutionary Economics Group.
  5. G. Buenstorf, 2006. "Comparative Industrial Evolution and the Quest for an Evolutionary Theory of Market Dynamics," Papers on Economics and Evolution 2006-23, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
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