Virtuous or Vicious Cycles? The Role of Divestitures as a Complementary Penrose Effect within Resource‐Based Theory
Strategic Management Journal, pp. 131-154, 2018.
Research summary: Studies of how divestitures affect firm performance offer mixed results. This paper unpacks relationships between divestitures and subsequent performance, focusing first on the moderating role of prior performance and then on mechanisms through which divestitures by higher‐ and lower‐performing firms affect performance. ...More
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