Divestiture and Firm Performance: A Meta-Analysis
这项元分析整合了94项研究、650个效应量，发现公司剥离确实能提升后续绩效，并识别出绩效指标、交易形式、交易意图和公司资源水平等调节因素。
While numerous empirical studies have examined the relationship between corporate divestiture and subsequent firm performance, inconsistent findings persist, suggesting the need for a quantitative synthesis and an examination of potential moderating effects. The authors conduct a meta-analysis of the divestiture-performance relationship, encompassing 650 effect sizes from 94 studies. Results indicate that across studies, corporate divestiture does positively impact subsequent performance. The analysis also suggests statistically significant moderating effects of type of performance measure, transaction format, transaction intent, and firm’s resource level. While providing a quantitative synthesis of current empirical findings, the authors call for further research to surface additional moderators to refine the knowledge concerning the link between corporate divestiture and subsequent performance.