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The purpose of this paper is to examine two different choices of corporate divestiture for US firms: selling off assets to public firms or issuing stocks in equity carve-outs. The authors identify industry-related, firm-specific, deal-related and market-timing factors that influence the choice between the two methods of divestiture.

The authors use the univariate tests, logistic regressions and buy-and-hold excess return computations to identify industry-related, firm-specific, deal-related and market-timing factors that influence the choice between the two methods of divestiture.

The results show that industry concentration, relative “hotness” of the equity carve-out market, market values of divested units and firm’s growth opportunities are all positively related to the probability of an equity carve-out selection. In contrast, firms in financial service industry, firms that divest smaller units and firms with higher asymmetric information mainly choose to divest assets through asset sell-offs. The findings also indicate that firms with higher leverage and/or higher cash flow constraint show a stronger likelihood for choosing either the equity carve-out option or asset sell-off with cash payment over asset sell-off with stock payment. In the long run, firms that sell-off their assets experienced better performance relative to firms that choose to carve-out.

The authors recognize several limitations of this study. First, the findings use the data collected in the US market. These findings may not be necessarily true to non-US firms. Therefore, one possible extension of this paper is to further examine the determinants that drive the methods of divestiture for non-US firms. Second, the authors have not examined the association between the choices of divestiture and the subsequent long-term operating performance of the firms. This could be another interesting direction for research in the future.

The findings have some implication for the divestiture literature by providing a set of determinants which play important roles on firms’ choice between an asset sell-off and an equity carve-out. The findings also have important implications for a potential acquirer who is interested in buying a firm’s subsidiary. Specifically, by analyzing the aforementioned influencing factors, the acquirer might foresee the possibility of a carve-out method and plan its bidding offer accordingly. From investors’ perspective, knowing which factors affect firms’ divesting methods and their subsequent long-run stock performance is undoubtedly beneficial to their investment strategies.

Prior research has attempted to address the reasons why firms divest or the outcomes of those actions. This paper focuses on the factors that influence the choice of sell-off versus carve-out once the decision to divest has been made. In addition, the authors look at a wide range of factors including industry-related, firm-specific, deal-related and market timing.

This study aims to illuminate the way in which consumers question the authenticity and worth of musicians, leading to a classification of selling out. The authors contribute to the debate on authenticity by attending to the question of worth that is under-examined in existing literature, by drawing upon French pragmatic sociology with specific attention to convention theory to understand conflicting interpretations of worth.

The considerations music fans go through navigating whether artists are selling out and the loss of worth were explored through 22 semi-structured interviews, complemented by focus group discussions (20 participants) and analysis of an online video blog.

The study identified three key themes: “Authenticity and Worth in the Inspired World”, “Selling Out as Loss of Worth” and “Signifiers of Selling Out”.

The emergent themes enable us to understand the worth that consumers place on musical artists, and the clash between the ideologies of the market world and the inspired world. The ideas regarding selling out and the signifiers may apply to other consumption experiences where the clash between the inspired and the market worlds exists and the conflicting ethos of each can lead to a loss of worth and selling out.

In this research, the authors examine situations in which consumers stigmatise as “sell outs”, artists who are marketised under the influence of capitalist social relations of production. As a result, these artists lose their authenticity and worth in the eyes of consumers. In doing so, this research contributes to the debate on authenticity by attending to the question of worth that is under-examined in existing literature.

The aim of this research paper is to examine why concert promoters sometimes advertise sold‐out live music shows when nobody can buy tickets any longer.

Durkheim's theory of religion as a thrilling social activity is used to hypothesize that the advertising of sold‐out events reminds audiences that star performers are popular and therefore helps to generate the “buzz” around them. Interviews with a series of promoters from the USA, UK and Canada revealed, however, that they see more immediate and mundane reasons for advertising sold‐out shows, including building the artist's career profile and training consumers to buy next time round.

It was found that promoters could also organize the sales and advertising process to bring sold‐out events into being. While their explanations diverged from a Durkheimian schema, the results of their actions did not. In effect they serendipitously did cultural work to further the Durkheimian process without being consciously concerned by it as an explanation of motives.

This paper suggests that the Durkheimian model illuminates a point of connection between commerce and affect in the reception of star performances. Further research on live music using the model as a hypothesis may therefore be useful.

A self‐help guide to achieving success in business. Directed more towards the self‐employed, it is relevant to other managers in organizations. Divided into clear sections on creativity and dealing with change; importance of clear goal setting; developing winning business and marketing strategies; negotiating skills; leadership; financial skills; and time management.

Gives an in depth view of the strategies pursued by the world’s leading chief executive officers in an attempt to provide guidance to new chief executives of today. Considers the marketing strategies employed, together with the organizational structures used and looks at the universal concepts that can be applied to any product. Uses anecdotal evidence to formulate a number of theories which can be used to compare your company with the best in the world. Presents initial survival strategies and then looks at ways companies can broaden their boundaries through manipulation and choice. Covers a huge variety of case studies and examples together with a substantial question and answer section.

An updated version of the original (1985) text, the book covers all aspects of marketing and selling bank services: the role of marketing; behaviour of customers; intelligence, planning and organisation; product decisions; promotion decisions; place decisions; price decisions; achieving sales. Application questions help to focus the readers' minds on key issues affecting practice.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

This study aims to present a timely description of the experience and intentions of EU firms regarding patent licensing and/or selling to China in a new era, where EU firms are taking a more open approach toward innovation and the Chinese institutional environment has been recently changed.

The timing of this study provides opportunities to observe up‐to‐date perceptions of EU firms regarding their intentions and concerns about patent transactions to China right after the new Chinese Patent Law took effect in 2009. Firms from 12 European countries in various industries were surveyed through an online questionnaire.

The paper finds that large and small EU firms are different regarding the openness of innovation measured by patent transactions; for those EU firms that are not interested in licensing or selling patents, most of them are not employing an open innovation model and IP infringement is still the primary concern. EU firms are most interested in selling obsolete technologies and licensing state‐of‐art technologies to China.

Owing to the small sample size, it is difficult to identify the differences in strategies and concerns across industries in the EU and to observe and statistically present the relationships between variables.

This study renders practical guidance for both EU and Chinese firms that are already engaged in or will be interested in patent trade in the future.

The timing of the research and the uniqueness of data ensure the originality of this paper, which contributes to the open innovation literature by addressing several important issues in international technology transfer to China.

This paper presents evidence to suggest that despite obstacles that made predatory pricing essentially impossible, the National Cash Register Co. (N.C.R.) managed successfully to deploy an arsenal of non-price predatory strategies that permitted it to consolidate and maintain a nearly complete monopoly of the cash-register trade. N.C.R. took actions to raise the costs and reduce the revenues of its rivals, actions that made sense only to the extent that N.C.R. could recoup their costs through the maintenance of monopoly rents. Our analysis suggests that antitrust prosecution was a significant threat to N.C.R., and ultimately forced the company to agree to abandon its most objectionable practices.