Baroncelli, Allessandro; Manaresi, Angelo - In: Revue Finance Contrôle Stratégie 1 (1998) 2, pp. 33-56
The focus of this paper is on divesting in-house trade activities into franchising operations. Conventional wisdom and assets analysis would suggest that firm growth objectives could only be attained through investments whereas an asset shrinking (a divestment) will necessarly determine a...