作者：Vidal, Elena; Mitchell, Will
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of Toronto
摘要：Research summary: Studies of how divestitures affect firm performance offer mixed results. This paper unpacks relationships between divestitures and subsequent performance, focusing first on the moderating role of prior performance and then on mechanisms through which divestitures by higher- and lower-performing firms affect performance. The study suggests that divestitures can exacerbate weakness and reinforce strength: divestitures by lower performers improve profits but inhibit sales growth...
