Resource relatedness, redeployability, and firm value
研究了多业务公司中资源关联性如何通过协同效应和可重新部署性的相互作用影响企业价值，并指出这种影响取决于不确定性，对管理者和研究者有启示。
Our paper elaborates the effects of resource relatedness on value of a multibusiness firm. We emphasize that value results from interplay of benefits of synergy and redeployability. This view, considering how synergy and redeployability interact in determining value, extends prior separate considerations of the two benefits. We also diagnose that the value effect of resource relatedness is contingent on uncertainty and specify this contingent relationship. We use the real option valuation approach and formally evaluate the impacts of the two effects of relatedness. This explication enables us to demonstrate how redeployability contributes to value beyond synergy, and how they contribute in tandem. In this sense, we illuminate previously undiagnosed value in multibusiness firms. Beyond theoretical implications, our results have important empirical and managerial implications . Copyright © 2013 John Wiley & Sons, Ltd.