Research on corporate unbundling: A synthesis

Abstract

Unbundling operations, understood as the parent company's disposal and sale of assets, facilities, product lines, subsidiaries, divisions and business units, are emerging as a central topic of research in several areas. Yet a synthesis is still lacking, and differences in the terminology have created confusion. This paper stimulates and facilitates future research by unpacking the nature of unbundling operations. We suggest that outcomes of unbundling may be mediated by variables, such as factors at process and management level, which have been greatly neglected in existing research. The paper builds a framework on antecedents, process and outcomes of unbundling by integrating empirical findings and theoretical contributions. Furthermore, it identifies gaps in the existing literature and offers suggestions for future research on unbundling.Corporate strategy; restructuring; divestiture; divestment;