search query: @indexterm Management buy-outs / total: 202
reference: 32 / 202
| Author: | Davidson, W. III Cheng, L. |
| Title: | Unit management buyouts, stockholder wealth, and selling firms' characteristics |
| Journal: | Journal of Business Finance and Accounting
1994 : JUN, VOL. 21:4, p. 563-576 |
| Index terms: | SHAREHOLDERS WEALTH MANAGEMENT BUY-OUTS |
| Language: | eng |
| Abstract: | Previous research on unit management buyouts, UMBs, has shown that selling firms benefit from the selloff transaction. The current research demonstrates that when the selling firm has either poor liquidity or poor earnings, selling firm shareholders do not benefit as much. The authors hypothesize that the unit managers have knowledge about the selling firm's difficulties so they do not pay as large a premium for the assets. Finally, selloff frequency does not affect seller abnormal returns. |
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