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Opportunity Spin-offs and Necessity Spin-offs

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  • Guido Buenstorf

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Abstract

Necessity spin-offs are organized by employees of incumbent firms to escape deteriorating job conditions. This paper proposes a conceptual model of the spin-off process. Necessity spin-offs are distinguished from opportunity spin-offs on the basis of their triggering events. An empirical analysis of German laser spin-offs traces differences in the performance and determinants of the two types of spin-offs. Necessity spin-offs are important to limit the devaluation of individual competences by the market process. They are particularly relevant in growth crises of innovative firms, and in the restructuring of economies with protected or state-owned companies.

Suggested Citation

  • Guido Buenstorf, 2007. "Opportunity Spin-offs and Necessity Spin-offs," Papers on Economics and Evolution 2007-18, Philipps University Marburg, Department of Geography.
  • Handle: RePEc:esi:evopap:2007-18
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    References listed on IDEAS

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    1. Christensen, Clayton M., 1993. "The Rigid Disk Drive Industry: A History of Commercial and Technological Turbulence," Business History Review, Cambridge University Press, vol. 67(04), pages 531-588, December.
    2. Cantner, Uwe & Graf, Holger, 2006. "The network of innovators in Jena: An application of social network analysis," Research Policy, Elsevier, vol. 35(4), pages 463-480, May.
    3. Guido Buenstorf, 2007. "Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 30(3), pages 179-202, May.
    4. Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
    5. Joern H. Block & Marcus Wagner, 2010. "Necessity and Opportunity Entrepreneurs in Germany: Characteristics and Earning s Differentials," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 62(2), pages 154-174, April.
    6. Michael D. Cohen, 2006. "What's different is routine," Industrial and Corporate Change, Oxford University Press, vol. 15(2), pages 387-390, April.
    7. Guido Buenstorf & Dirk Fornahl, 2006. "B2C - Bubble to Cluster: The Dot.com Boom, Spin-off Entrepreneurship, and Regional Industry Evolution," Papers on Economics and Evolution 2006-20, Philipps University Marburg, Department of Geography.
    8. Chesbrough, Henry, 2003. "The governance and performance of Xerox's technology spin-off companies," Research Policy, Elsevier, vol. 32(3), pages 403-421, March.
    9. 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 362-378, October.
    10. Guido Buenstorf, 2007. "Creation and Pursuit of Entrepreneurial Opportunities: An Evolutionary Economics Perspective," Small Business Economics, Springer, vol. 28(4), pages 323-337, April.
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    Cited by:

    1. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters,in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144 Edward Elgar Publishing.
    2. 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.
    3. Christian Cordes & Peter Richerson & Georg Schwesinger, 2014. "A corporation’s culture as an impetus for spinoffs and a driving force of industry evolution," Journal of Evolutionary Economics, Springer, vol. 24(3), pages 689-712, July.
    4. Giacomin, Olivier & Janssen, Frank & Guyot, Jean-luc & Lohest, Olivier, 2011. "Opportunity and/or necessity entrepreneurship? The impact of the socio-economic characteristics of entrepreneurs," MPRA Paper 29506, University Library of Munich, Germany.
    5. Fackler, Daniel & Schnabel, Claus, 2013. "Survival of spinoffs and other startups: First evidence for the private sector in Germany, 1976-2008," Discussion Papers 84, Friedrich-Alexander University Erlangen-Nuremberg, Chair of Labour and Regional Economics.
    6. Daniel Fackler & Claus Schnabel & Alexandra Schmucker, 2016. "Spinoffs in Germany: characteristics, survival, and the role of their parents," Small Business Economics, Springer, vol. 46(1), pages 93-114, January.
    7. Johannes Dick & Katrin Hussinger & Boris Blumberg & John Hagedoorn, 2013. "Is success hereditary? Evidence on the performance of spawned ventures," Small Business Economics, Springer, vol. 40(4), pages 911-931, May.
    8. Peter Thompson & Jing Chen, 2011. "Disagreements, employee spinoffs and the choice of technology," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 455-474, July.
    9. Helmut Fryges & Mike Wright, 2014. "The origin of spin-offs: a typology of corporate and academic spin-offs," Small Business Economics, Springer, vol. 43(2), pages 245-259, August.
    10. Margherita Balconi & Roberto Fontana, 2011. "Entry and innovation: an analysis of the fabless semiconductor business," Small Business Economics, Springer, vol. 37(1), pages 87-106, July.

    More about this item

    Keywords

    Spin-offs; necessity entrepreneurship; opportunity discovery; market process; laser industry Length 32 pages;

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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