From a corporate venture to an independent company: a base for a taxonomy for corporate spin-off firms |
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| Authors: | Annaleena Parhankangas Pia Arenius |
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| Institution: | a Rensselaer Polytechnic Institute, 110 8th Street, Pittsburgh Bldg. 2106, Troy, NY 12180, USA
b Helsinki University of Technology, P.O. Box 1000, FIN-02015 HUT, Finland |
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| Abstract: | This paper proposes a taxonomy of corporate spin-off firms by exploring the nature of parent firm-spin-off firm relationship. Relying on the resource-based and the resource-dependence theory, special attention is paid to the complementarity of the resource base of the parent firm relative to its spin-off, the intensity of collaboration between the parent and the spin-off, and the dependence of the spin-off firm on the resources provided by the parent organization. Based on cluster analysis, we were able to identify three distinct groups of corporate spin-off firms: spin-offs developing new technologies, spin-offs serving new markets and restructuring spin-offs. These groups differ from one another in terms of the intensity of resource sharing linkages and knowledge transfer between the parent and the spin-off, timing of separation, as well as the direction and breadth of their new product development activities. |
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| Keywords: | Corporate spin-off firms Inter-organizational relationships The resource-based theory The resource-dependence theory Corporate diversification |
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