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 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. - In: FINANZA MARKETING E PRODUZIONE. - ISSN 1593-2230. - 31:3(2013), pp. 40-67.

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 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. - In: FINANZA MARKETING E PRODUZIONE. - ISSN 1593-2230. - 31:3(2013), pp. 40-67.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/81267
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