Strategic management research has always been committed to portray divestitures just as a reaction to strategic mistakes or a change to earlier decisions. Yet, scholars have recently gauged that divestiture operations represent a keystone in firm value creation (e.g. Moschieri and Mair, 2011) propelling change process. This article reviews existing research on divestiture classifying it into three schools of thought - firm efficiency, firm superiority and firm conformity – based on different assumptions and conceptualizations of firms and firm objectives. Moreover, it introduces a taxonomy of divestiture operations that accounts for their heterogeneous determinants, thus proposing to read divestiture no longer and not only as a sign of failure, but rather as a tool to create and preserve shareholders’ wealth.

Verso una "cultura" del disinvestimento: Efficienza, Superiorità e Conformità / Peruffo, Enzo; A., Perri; S., Gentili. - (2013). ((Intervento presentato al convegno 36. AIDEA Conference tenutosi a Lecce nel 19-20-21 September 2013.

Verso una "cultura" del disinvestimento: Efficienza, Superiorità e Conformità

PERUFFO, ENZO;A. Perri;
2013

Abstract

Strategic management research has always been committed to portray divestitures just as a reaction to strategic mistakes or a change to earlier decisions. Yet, scholars have recently gauged that divestiture operations represent a keystone in firm value creation (e.g. Moschieri and Mair, 2011) propelling change process. This article reviews existing research on divestiture classifying it into three schools of thought - firm efficiency, firm superiority and firm conformity – based on different assumptions and conceptualizations of firms and firm objectives. Moreover, it introduces a taxonomy of divestiture operations that accounts for their heterogeneous determinants, thus proposing to read divestiture no longer and not only as a sign of failure, but rather as a tool to create and preserve shareholders’ wealth.
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Verso una "cultura" del disinvestimento: Efficienza, Superiorità e Conformità / Peruffo, Enzo; A., Perri; S., Gentili. - (2013). ((Intervento presentato al convegno 36. AIDEA Conference tenutosi a Lecce nel 19-20-21 September 2013.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/80667
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