What Constrains or Facilitates Divestitures of Formerly Acquired Firms? The Effects of Organizational Inertia
研究组织惯性如何影响母公司剥离先前收购的绩效不佳的单元，发现关键人员变动和有效治理机制能提高剥离可能性，而年龄和规模等因素会调节这些效应。
This study examined behavioral explanations for the divestitures of formerly acquired units, particularly organizational inertia. It was argued that characteristics of parent firms and divested units reduce the likelihood of divesting a poorly performing unit. Conversely, it was also argued that change of key personnel and effective governance mechanisms increase the likelihood of such divestitures. Importantly, the results show that with age and size combined, appointment of new outside directors and divestiture experience (among other variables) moderated the effects on the likelihood of firms divesting units they had previously acquired. Implications for future theory development and management practice are also discussed.