Abstract
The three essays collected in this PhD thesis examine the antecedents of legacy divestitures and their implications for firm performance. Legacy divestitures, which refer to the sale or spin-off of a firm’s original business line or legacy business, are considered to have distinct impact on a firm’s adaptation efforts. This dissertation aims to enhance our understanding of alternative strategic modes by which firms can adjust their resources in response to environmental changes and thereby sustain growth. The first essay examines the conditions under which firms may choose to overcome the constraints of long-existing resources embedded in their legacy business on their adaptability through a legacy divestiture. The second essay investigates the implications for the firm’s performance of the disposal of long-existing resources embedded in its legacy business via a legacy divestiture. The last essay studies the mechanism by which elimination of long-existing resources embedded in the firm’s legacy business facilitates its adaptation and growth
| Original language | English |
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| Qualification | Doctor of Philosophy |
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| Award date | 13 Dec 2021 |
| Place of Publication | Tilburg |
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| Print ISBNs | 978 90 5668 673 4 |
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| Publication status | Published - 2021 |