Japanese spinoffs: Unexplored survival strategies
分析了日本公司如何利用分拆作为实现增长目标的工具，基于交易成本理论探讨了分拆的治理模式及其在多元化管理、核心能力增长和内部劳动力市场效率方面的作用。
Abstract This paper analyzes spinoffs of Japanese firms and the use of the spinoff as an instrument to achieve corporate growth objectives. The initial separation of the organizations and its governance mode are analyzed in the context of transaction costs theory. Spinoffs may be created in order to (1) balance costs associated with managing diversified businesses, (2) generate growth based on core competencies of a firm, and (3) pursue an efficient internal labor market. In a changing environment, the spinoff has been a widely used flexible organizational arrangement that is suitable to survival and offers an alternative way of diversification.