What does it take to be a good parent? Opening the black-box of value creation in the unrelated multibusiness firm

Oliver Gottschalg (1) , Degenhard Meier (2)

1 GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC
2 RWTH - Rheinisch-Westfälische Technische Hochschule Aachen University

This paper develops and tests new theory about the determinants of value creation in unrelated multibusiness firms from a resource-based perspective. The authors argue that the availability of "headquarter resources", which are at the basis of headquarter services provided to the business units, is the driving force behind unrelated diversification.

Mots clés: diversification; private equity; management buyout; leveraged buyout; resource-based view; parenting effect; conglomerate

Domaines: Stratégie et politique d’entreprise

Oliver Gottschalg, Degenhard Meier. What does it take to be a good parent? Opening the black-box of value creation in the unrelated multibusiness firm. 2011. ⟨hal-00601475⟩