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Sell-offs and Firm Performance : A Matter of Experience?

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abstract This paper investigates the effects of experience on the relationship between sell-off activity and firm performance. Drawing on organizational learning literature, we examine whether and how firms may learn to effectively sell their
assets. Based on our longitudinal, empirical analysis, we find that firms that accumulate sell-off experience are able to improve subsequent sell-off performance. Furthermore, we find that experience heterogeneity, defined as the diversity among previous sell-offs, and experience relatedness, defined as the similarity of sell-offs to the selling firm's core business, moderate our main relationship. Finally, results highlight the important role of external knowledge in a
firm's attempt to learn from previous sell-offs

Winner of the Best Conference PhD Paper Prize; Nominee for the Best Conference Paper Prize for Practice Implications
   
type conference paper (English)
   
keywords Divestiture, Organizational Learning
   
name of conference SMS 31st Annual Conference 2011 (Miami, Fl. Winner of the Best Conference PhD Paper Prize, Nominee for the Best Conference Paper Prize for Practice Implications)
date of conference 6-11-2011
title of proceedings Stragegies for a Multi-Polar World
publisher SMS Strategic Management Society (Chicago)
review not reviewed
   
citation Luger, J., Mammen, J., & Brauer, M. (2011). Sell-offs and Firm Performance: A Matter of Experience?. In Stragegies for a Multi-Polar World. Chicago: SMS Strategic Management Society.