haku: @author Bühner, R. / yhteensä: 28
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| Tekijä: | Bühner, R. Digmayer, J. |
| Otsikko: | Aktienmarktreaktionen auf die Ankündigungen von Spin-offs und Sell-offs |
| Lehti: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
2003 : NOV, VOL. 55:7, p. 657-677 |
| Asiasana: | Stock markets Spin-offs |
| Vapaa asiasana: | Clearance sale |
| Kieli: | ger |
| Tiivistelmä: | 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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