Cordes, Christian; Richerson, Peter; Schwesinger, Georg - In: Journal of Evolutionary Economics 24 (2014) 3, pp. 689-712
We offer a theory of spinoffs that explains some salient aspects of these important market entrants. In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents’ evolving corporate...