haku: @journal_id 592 / yhteensä: 267
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| Tekijä: | Powers, E.A. |
| Otsikko: | Deciphering the motives for equity carve-outs |
| Lehti: | Journal of Financial Research
2003 : SPRING, VOL. 26:1, p. 31-50 |
| Asiasana: | Equities Initial public offerings Spin-offs |
| Vapaa asiasana: | Carve-outs |
| Kieli: | eng |
| Tiivistelmä: | 181 equity carve-outs are analyzed to determine whether the transactions are motivated by potential efficiency improvements or by an opportunity to sell overvalued equity. Carve-out operating performance peaks at issue, declining significantly thereafter. Parents sell a greater percentage of shares when subsequent performance is poor. A negative relation also exists between long-term excess returns and the percentage of shares sold. |
SCIMA