Increasing resource scarcity and a continuously evolving business environment present companies with new challenges. Management is compelled to develop the ability to adapt to changing conditions and to utilize the available resources as efficiently as possible if it wants to compete in the growing competition for financial resources in the capital markets. This requires setting organizational priorities. It necessitates the release of resource commitments where their use is not efficient or where environmental conditions demand it. Recently, the transaction form of spin-offs has gained increasing importance in Europe when it comes to adapting companies to changing environmental conditions. Despite their significant practical and scientific relevance, spin-offs remain underexplored.