The impact of modes of entry and resource fit on modes of exit by multibusiness firms
研究了多业务企业在探索新业务时，进入模式与退出模式之间的关系，发现退出模式受资源匹配度和企业特有资产发展程度影响，且与初始进入模式密切相关。
This study examines the choices of modes of entry and exit in the process of new business exploration. We find that exit mode choices are determined by a different set of factors from those that are important for the entry mode decision and the exit decision per se. Our study indicates that when the resource profiles of a parent firm and the business unit are more dissimilar, and there has been less development of firm-specific idiosyncratic assets, firms are more likely to sell businesses than dissolve them. Further, the study reports a strong relationship between the mode of exit from a line of business (sell-off vs. dissolution) and the original mode of entry (acquisition versus internal development). Copyright © 1999 John Wiley & Sons, Ltd.