Firmas Spin-off

Saíram recentemente dois estudos que usam este conceito de firma spin-off como base de sua investigação.

No primeiro estudo,  o autor acredita que a interação entre grandes e pequenas firmas inovadoras gera maior inovação, principalmente inspirado na experiência de firmas spin-off. Então ele decide testar isto, comparando cidades diferentes, com firmas únicas ou um conjunto de firmas, parte delas spin-off de uma firma central.

Inclui modelo.

Large labs may spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. Small labs generate demand for specialized services that lower entry costs for others. We develop a theoretical framework to study the interplay of these two localized externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that innovation output is higher where large and small labs coexist. The finding is robust to across-region as well as within-region analysis, IV analysis, and the effect is stronger in certain subsamples consistent with our explanation but not the plausible alternatives.

via Why are Some Regions More Innovative than Others? The Role of Firm Size Diversity.

Em um segundo estudo, os autores utilizam dados do Brasil para investigar o próprio fenômeno do spin-off, analisando sobrevivência e facilidade de entrada.

We gauge the prevalence and performance of firms founded as employee spinoffs, relative to other new firms with and without parents, and relative to diversification ventures of existing firms entering new industries. Using a comprehensive linked employer-employee database from Brazil for the universe of formal firms during the period 1995-2001, we are able to identify an employee spinoff either when the director/manager moved from a parent in the same industry or when one-quarter of the employees shifted from a common parent. Depending on definition, employee spinoffs account for between one-sixth and one-third of the new firms in Brazil’s private sector during this period. Regardless of definition, size at entry is larger for employee spinoffs than for new firms without parents but smaller than for diversification ventures of existing firms. Similarly, survival rates for employee spinoffs are higher than for new firms without parents and comparable to those for diversification ventures of existing firms. These results suggest that we can think of some part of a firm’s productivity and riskiness as embodied in the firm’s employees and portable.

via Employee Spinoffs and Other Entrants: Stylized Facts from Brazil 10.1016/j.ijindorg.2012.02.001 : International Journal of Industrial Organization |

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