From patchwork to theory development : mapping and advancing research about business portfolio restructuring

While research on corporate or business portfolio restructuring has become an independent part of corporate restructuring research, the respective scholarly literature is in need of a systematic review that identifies the substantiated state of knowledge and reveals future research opportunities in this field of strategic management. The objective of our study is to fill this gap. Combining several literature retrieval methodes 73 studies are identified and analyzed. As a result, current shortcomings in theory-building and empirical portfolio restructuring research are highlighted applying a framework that distinguishes between antecedents, processes, and outcomes of portfolio restructuring activities. The contribution of this paper goes beyond listing past achievements and disregarded issues as it proposes several directions for future research. Specifically, there is an urgent need for studying restructuring processes and the corresponding development or use of appropriate research methods.