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| Author: | Donaldson, G. |
| Title: | Voluntary restructuring: the case of General Mills |
| Journal: | Journal of Financial Economics
1990 : SEP, VOL. 27:1, p. 117-141 |
| Index terms: | STRUCTURAL CHANGE FINANCIAL PERFORMANCE |
| Language: | eng |
| Abstract: | A detailed case history of voluntary restructuring by General Mills is presented. During the 1980s the company reversed the extensive diversification of the two preceding decades by returning to its traditional core of packaged foods and food-related services. Drawing on field interviews with the parties involved in the decision process the rationale behind both the structure and the restructuring process are explained. The role of the internal corporate governance process, the internal and external forces for change, and the consequences for financial performance and shareholder value are highlighted. |
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