search query: @author Ofek, E. / total: 11
reference: 10 / 11
| Author: | Berger, P. Ofek, E. |
| Title: | Bustup takeovers of value-destroying diversified firms |
| Journal: | Journal of Finance
1996 : SEP, VOL. 51:4, p.1175-1200 |
| Index terms: | CORPORATE RESPONSIBILITY CAPITAL GAINS TAX |
| Language: | eng |
| Abstract: | The authors examine whether the value loss from diversification affects takeover and breakup probabilities. The authors estimate diversification's value effect by imputing stand-alone values for individual business segments and find that firms with greater value losses are more likely to be taken over. Moreover, those acquired firms whose losses are greatest are most likely to be bought by LBO associations, which frequently break up their targets. |
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