search query: @author Bühner, R. / total: 28
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| Author: | Bühner, R. Digmayer, J. |
| Title: | Aktienmarktreaktionen auf die Ankündigungen von Spin-offs und Sell-offs |
| Journal: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
2003 : NOV, VOL. 55:7, p. 657-677 |
| Index terms: | Stock markets Spin-offs |
| Freeterms: | Clearance sale |
| Language: | ger |
| Abstract: | The paper examines market reactions on spin-off and sell-off announcements. The authors find that the market reacts positively on spin-offs compared to sell-offs when the spin-off is executed by high Q firms. They could find no evidence for the argument that the market reacts negatively when the firms executing spin-offs and sell-offs are inflicted by agency costs of free cash-flow. The results support some fundamentals of property rights theory. |
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