TY - JOUR A1 - Moschieri, Caterina A1 - Mair, Johanna T1 - Managing divestitures through time - expanding current knowledge JF - Academy of Management Perspectives N2 - Although most existing literature has focused on the motives and consequences of divestitures, we have little more than anecdotal evidence illustrating their design and implementation. Even less is known about the evolution of divestitures, especially when parent companies retain a relationship with the divested unit. Using a multi-method approach that blends quantitative analysis with insights from field research, this study analyzes how and why companies structure and implement divestitures. The resulting framework provides new insights for strategy scholars on how divestitures can be used to shape corporate strategies and our understanding of multi-business companies. KW - Qualitative Orientation KW - Corporate Strategy KW - Restructuring/downsizing Y1 - 2012 VL - 26 IS - 4 SP - 35 EP - 50 ER - TY - JOUR A1 - Moschieri, Caterina A1 - Mair, Johanna T1 - Adapting for innovation: including divestitures in the debate JF - Long Range Planning N2 - Existing literature argues that divested units are unwanted and poor performers – yet evidence suggests that companies do divest well performing units, and often retain a relationship with them, especially in the quest for innovation. This article presents an exploratory case study to examine how a company structures the divestiture of an innovative unit and how it can benefit from the innovation the unit generates. The analysis focuses on how an established company can use divestiture as a strategy to enhance the innovation of its units, and capture its value, by structuring, maintaining and nurturing a special relationship with the unbundled unit. Under new organizational arrangement, resources can be transferred from the parent to the unit, while the parent retains access to the innovation developed within the unit. This study proposes a framework that offers corporate change agents and strategists a new perspective on how to integrate innovation and corporate strategy. KW - innovation KW - divestment KW - corporate strategy KW - case studies KW - companies Y1 - 2011 SN - 0024-6301 VL - 44 IS - 1 SP - 4 EP - 25 ER - TY - CHAP A1 - Moschieri, Caterina A1 - Mair, Johanna T1 - Successful Divestitures Need Proper Cultivation T2 - Crafting and Executing Strategy: The Quest for Competitive Advantage : Concepts and Cases Y1 - 2014 SN - 9781259011801 PB - McGraw Hill Higher Education ER - TY - JOUR A1 - Mair, Johanna A1 - Moschieri, Caterina T1 - Research on Corporate Divestitures : A Synthesis JF - Journal of Management & Organization N2 - Divestitures, understood as the parent company’s disposal and sale of assets, facilities, product lines, subsidiaries, divisions and business units, are emerging as a central topic of research in several areas. Yet our understanding of these operations is still limited. For example, it is still not clear whether divestitures are merely a reflection of the economic cycle, a means to correct or reverse previous strategic decisions, or a proactive strategic option. Integrating literature in finance, strategy, and organizational behavior, this paper offers a comprehensive picture of divesting modes, antecedents, mechanisms and outcomes of divestitures. It integrates empirical findings and theoretical contributions into a researchable whole, in order to identify common themes and gaps in existing research. The final objective of this analysis and review is to propose meaningful avenues for future research to improve knowledge on divestitures. KW - Carve-outs KW - Corporate strategy KW - Divestitures KW - Management buyouts KW - Restructuring KW - Spin-offs KW - Sell-offs Y1 - 2008 U6 - https://doi.org/10.1017/S1833367200003163 SN - 1833-3672 VL - 14 IS - 4 SP - 399 EP - 422 ER - TY - JOUR A1 - Mair, Johanna A1 - Moschieri, Caterina T1 - "Unbundling" incentiva a ascensão de novos negócios JF - Diário Económico Y1 - 2006 ER - TY - JOUR A1 - Mair, Johanna A1 - Moschieri, Caterina T1 - Unbundling frees business for take off JF - Financial Times, Special Series on Mastering Transactions Y1 - 2006 ER - TY - JOUR A1 - Mair, Johanna A1 - Moschieri, Caterina T1 - Corporate Entrepreneurship: Partial Divestitures as Real Option JF - European Management Review N2 - Scholars in strategy and entrepreneurship have discussed the benefits and difficulties of keeping ventures inside the firm versus separating them through divestitures and the balance between control and autonomy. Using an in-depth analysis of cases of partial divestitures, this study examines the organizational arrangement that arises from divestitures with a retained parent-unit relationship. The emerging framework connects the parent-unit relationship and its modifications along the divestiture's objective – specifically, the exploration carried out by the unit. Partial divestitures are designed as real options, for firms to manage corporate venturing, taking advantage of the flexibility that such arrangement may grant. Y1 - 2017 SN - 17404754 VL - 14 IS - 1 SP - 67 EP - 82 ER -