This study examines how MNE divestment decisions differ according to real options vs. risk diversification perspectives. We develop competing hypotheses in relation to international diversification and joint ownership control. Empirical results give consistent support to the real options...

Many financial theories emphasize the positive relationship between information disclosure and firm performance. However, disclosure of information can harm a firm if others make strategic use of the information. In this paper, we test the effect of information disclosure on performance. Using a...

Geographic sales diversification (i.e., exports) is a multidimensional phenomenon that has primarily been examined using a single theoretical perspective drawn from international trade or organizational strategy. This study uses managerial discretion, real options, and innovation literatures to...

This study examines one paradox of the spinning-off process—on one hand, a spin-off's affiliation with the parent firm provides legitimacy that it can leverage for success; on the other hand, a stronger affiliation with the parent firm makes it difficult for a spin-off to resolve identity...

We consider how internal research and development (R&D) influences the use of corporate venture capital (CVC) and how this relationship varies across industries. We find that, in general, R&D investments increase the number of CVC deals in an industry. We also find that R&D investment has a...

A genealogical theory of new venture creation posits that “parent” firm routines are transferred to “progeny” ventures founded by the former employees of these parents. This study examines how the knowledge available to a venture from its parent firms and individual founders, as well as...