Peter Thompson () (Department of Economics, Florida International University) Steven Klepper () (Department of Social and Decision Sciences, Carnegie Mellon University)
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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 disagree-ments, and explore how well it explains the emerging empirical regularities.
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Paper provided by Florida International University, Department of Economics in its series Working Papers with number
0907.
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