Analysis of the Results
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Important terminology for understanding the results A "Non Spin-Off relates to a company that does not have experience with Spin-Off processes, neither as parent nor as Spin-Off A "parent" and a "Spin-Off are referred to in correspondence to their role.
Source: Own compilation
The distinction between those companies that have experience with Spin-Offs and those that do not takes into account that the first 15 questions of the questionnaire have generated data for both cases.
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ANALYSIS OF THE RESULTS
5.2. DESCRIPTIVE STATISTICS OF THE RESPONSES TO THE QUESTIONNAIRE By the end of November 2000, a total of 211 filled-in questionnaires had been received. Non-delivery or non-participation messages from 41 large companies and 52 Small and Medium Enterprises (SMEs) had arrived. The distribution of the received questionnaires in relation to the sampling population is shown in the following table. It has to be noted that the very small companies (0-9 employees) were not included in the original sample (see also section 4.6.2). Table 5.1. Relation between the received questionnaires and the sample In sample - returned
Parents and Spin-Offs*
non Spiin-Offs
number
% of sample
number
% of sample
947-41 = 906
71
7,84 %
28
3,09 %
SMEs***
3.211-52= 3.159
17
0,54 %
95
3,00 %
Total
4.158-93= 4.065
88
2,16%
123
3,03 %
Large firms**
Response rate: 5,19 % (211 questionnaires) Note: *
"Non Spin-Off" refers to companies that do not have experience with Spin-Off processes, neither as a parent nor a Spin-Off. "Spin-Off' refers to companies that have this experience, which means that they responded either in their role as parent, SpinOff, or both. ** more than 249 employees *** between 10 and 249 employees (firms with less than 10 employees were not included in the original sample) Source: Own compilation
The response rate of 5,19 % and the 40 % of the respondents having Spin-Off experience and 60 % not having Spin-Off experience confirmed expectations.
SUCCESS FACTORS OF CORPORATE SPIN-OFFS
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The following figure illustrates the composition of the sample population and the responses by firm size. Figure 5.1. Sample population and responses by firm size 60% 50% -•—share in sample population
» 40% c
1
I 30%
ii^" responses from Spin-Offs and non Spin-Offs
CO
I
^ 20% o
10% 0% small (10-49)
medium (50-249)
large (250+)
Firm size (number of employees) Source: Own compilation
Half of the original sample population were small firms, while medium and large firms made-up for one quarter of the sample each. The total response rate rises with growing firm size. In comparison to small firms, 50 % more answers were generated from medium firms and double the answers from large firms. The fact that the response rate from smaller companies tends to be lower has been observed in similar studies^''. Although this had been accounted for in the composition of the sample, there were significant differences between the responses of firms with different sizes. Small firms responded much less with respect
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