success factors of corporate spin-offs (en Inglés)

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corporate spin-off processes are very interesting phenomena for management theory and practice. in theory, corporate spin-offs are both a driver and a result of organisational change, offering the possibility to investigate an area where companies are genuinely sharing experience and best practice. although corporate spin-offs can be clearly distinguished from other types of start-ups and divestments and despite combining key-characteristics in a unique way, existing investigation is sparse and heterogeneous. in practice, corporate spin-off processes are frequent and highly successful, but not as well-regarded as merger & acquisition strategies and less understood by the decision-makers. the present work was designed to meet these demands by analysing the success factors of corporate spin-offs, their relative contribution to the process and the role of the different actors involved. based on an extensive literature review and a new spin-off typology, a broad range of success factors and success dimensions is proposed. using a combination of multivariate models, the responses from 211 european companies to a questionnaire are analysed and typologies derived. among the single factors, customer participation, the transfer of managerial and market-related experience and the main motivation are the most important ones for the spin-off process and its success. the typologies reveal characteristic factors sets, showing for example that high-growth spin-offs benefited over-proportionally from sector growth or the access to relations with customers or suppliers. this produces a new and comprehensive perspective on the relative contribution of each success factor, their interaction, and the behaviour of both the parent and the spin-off companies in the process. these results are highly valuable for managers, scientists in the field and policy-makers.

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