haku: @author Bühner, R. / yhteensä: 28
viite: 7 / 28
| Tekijä: | Bühner, R. |
| Otsikko: | Unternehmensspaltung - Motive and Aktienmarktreaktionen |
| Lehti: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
1998 : VOL. 50:9, p. 809-840 |
| Asiasana: | CORPORATE RESTRUCTURING CONTRACTS ORGANIZATIONAL STRUCTURE EMPIRICAL RESEARCH COMPANY LAW GERMANY |
| Kieli: | ger |
| Tiivistelmä: | A new German Company Reorganization Act (Umwandlungsgesetz 1995) favours restructering by spin-offs and sell-offs. Referring to the theory of implete contracts the paper deals with the conditions under which these kinds of restructering make economic sense. It is argued that costs of organizational failures and of market control are responsible for abnormal market return effects. Empirical evidence is delivered by an international sample of spin-offs and sell-offs as well as the prominent spin-off case of AT&T. |
SCIMA