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What explains the survival gap of pushed and pulled corporate spin-offs?

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  • Rocha, Vera
  • Carneiro, Anabela
  • Varum, Celeste

Abstract

Unconditionally, pushed spin-offs are found to survive longer than their pulled counterparts. Using matched employer–employee data and novel multivariate decomposition techniques, we show that pushed spin-offs’ relative survival advantage is mostly explained by their larger human capital endowments at entry.

Suggested Citation

  • Rocha, Vera & Carneiro, Anabela & Varum, Celeste, 2015. "What explains the survival gap of pushed and pulled corporate spin-offs?," Economics Letters, Elsevier, vol. 126(C), pages 127-130.
    • Handle: RePEc:eee:ecolet:v:126:y:2015:i:c:p:127-130
    DOI: 10.1016/j.econlet.2014.11.029
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    References listed on IDEAS

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    1. Eriksson, Tor & Moritz Kuhn, Johan, 2006. "Firm spin-offs in Denmark 1981-2000 -- patterns of entry and exit," International Journal of Industrial Organization, Elsevier, vol. 24(5), pages 1021-1040, September.
    2. Johannes Dick & Katrin Hussinger & Boris Blumberg & John Hagedoorn, 2013. "Is success hereditary? Evidence on the performance of spawned ventures," Small Business Economics, Springer, vol. 40(4), pages 911-931, May.
    3. Guido Buenstorf, 2009. "Opportunity spin-offs and necessity spin-offs," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 1(1), pages 22-40.
    4. Powers, Daniel A. & Yun, Myeong-Su, 2009. "Multivariate Decomposition for Hazard Rate Models," IZA Discussion Papers 3971, Institute of Labor Economics (IZA).
    5. Luis Cabral & Zhu Wang, 2008. "Spin-offs: theory and evidence from the early U.S. automobile industry," Research Working Paper RWP 08-15, Federal Reserve Bank of Kansas City.
    6. Daniel A. Powers & Hirotoshi Yoshioka & Myeong-Su Yun, 2011. "mvdcmp: Multivariate decomposition for nonlinear response models," Stata Journal, StataCorp LP, vol. 11(4), pages 556-576, December.
    7. Vera Rocha & Anabela Carneiro & Celeste Varum, 2015. "Where Do Spin-Offs Come From? Start-Up Conditions and the Survival of Pushed and Pulled Spin-Offs," International Studies in Entrepreneurship, in: Rui Baptista & João Leitão (ed.), Entrepreneurship, Human Capital, and Regional Development, edition 127, chapter 0, pages 93-122, Springer.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Schulz, Matthias & Urbig, Diemo & Procher, Vivien, 2016. "Hybrid entrepreneurship and public policy: The case of firm entry deregulation," Journal of Business Venturing, Elsevier, vol. 31(3), pages 272-286.

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    More about this item

    Keywords

    Spin-offs; Entrepreneurship; Firm survival; Labor mobility; Human capital;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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