The results of the statistical analysis will be outlined in three major sections. The first section will include the statistical analyses of the Hypotheses 1 to 4, introducing the four identified types of legitimacy needs. After a descriptive analysis and a check for multicollinearity between the study variables, logistic regressions will be calculated for each hypothesis.


Variance Inflation Factor Beta Coefficient Sample Firm Parent Firm Diversify Firm 
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  1. 388.
    Cf. Haleblian & Finkelstein (1993), p. 855; see also Agle et al. (2006), p. 166 f.Google Scholar
  2. 389.
    Similarly to, e.g., Agle et al. (2006, p. 166), an additional control variable industry has been renounced because the operationalization of the independent variables already takes the control for industry effects into account (see Chapter 4). Model 1 only includes the seven control variables.Google Scholar
  3. 390.
    Cf. Chang (1996), p. 605; Cho & Cohen (1997), p. 371; Kaiser & Stouraitis (2001), p. 68.Google Scholar
  4. 391.
    Referring to a lack of focus, see, e.g., Markides (1992a, 1995) and Steiner (1997). With regard to a lack of fit, see, e.g., Duhaime & Grant (1984), Montgomery & Thomas (1988), or Chang (1996) who shows that firms are more likely to abandon a business unit that requires a different human resource profile.Google Scholar
  5. 392.
    See Chapter 4.3.4.Google Scholar
  6. 393.
    Byerly et al. (2003), p. 238.Google Scholar
  7. 394.
    “i” means that these models include interaction effects and hence extend the models 8, 9, 10, and 13 concerning Hypothesis 2.Google Scholar
  8. 395.
    See, e.g., Bethel & Liebeskind (1993), Gibbs (1993), and Gillan et al. (2000).Google Scholar
  9. 396.
    Cf. Varadarajan et al. (2001), p. 19.Google Scholar
  10. 397.
    See, e.g., Chapter 3.3.4 and the examples outlined there.Google Scholar
  11. 398.
    Cf. Datta et al. (2003), p. 110.Google Scholar
  12. 399.
    See Chapter 4.4.1 and the studies by Hoetker (2006, 2007) quoted there.Google Scholar
  13. 400.
    Cf. DiMaggio & Powell (1991), p. 75.Google Scholar
  14. 401.
    See Chapter 3.1 for more details on these strategic options and the studies referring to them quoted there. See also Chapter 4.3.1 for more information on the operationalization of these potential strategic outcomes of business exit.Google Scholar
  15. 402.
    Refer to Chapter 3.4 for more details on the legitimacy-based drivers of fit-enhancing versus status quo-preserving business exit.Google Scholar
  16. 403.
    Cf. Backhaus et al. (2006), p. 212.Google Scholar
  17. 404.
    Cf. Chang & Singh (1999), p. 1029; Peng et al. (2004), p. 1122. See also Chapter 4 for details on how to calculate tau.Google Scholar

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