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| Author: | Khurana, I. Lippincott, B. |
| Title: | Restructuring and firm value: the effects of profitability and restructuring purpose |
| Journal: | Journal of Business Finance and Accounting
2000 : NOV/DEC, VOL. 27:9&10, p. 1107-1130 |
| Index terms: | INFORMATION PROFITABILITY FIRM (THEORY OF) |
| Language: | eng |
| Abstract: | This study extends prior research on the information content of restructuring charges. The authors find that the relationship between restructuring activities and returns during the restructuring charge year is different for loss firms than for profit firms. Restructurings that are primarily intended to either eliminate personnel or exit a line of business are positively associated with returns of the loss firms, suggesting that investors view these activities as value-increasing. |
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