haku: @indexterm Divestment / yhteensä: 99
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| Tekijä: | Tehranian, H. Travlos, N. G. Waegelein, J. F. |
| Otsikko: | The effect of long-term performance plans on corporate sell-off-included abnormal returns. |
| Lehti: | Journal of Finance
1987 : SEP, VOL. 42:4, p. 933-942 |
| Asiasana: | COMPANY PERFORMANCE DIVESTMENT DECISION MAKING |
| Kieli: | eng |
| Tiivistelmä: | The association between long-term performance plans and wealth effects occurring to stockholders of divesting firms at announcements of sell-off proposals is examined. The results indicate that divesting companies with long-term performance plans experience a more favorable stock market reaction at the announcement of sell-off proposals relative to firms without long-term performance plans. The findings imply that long-term performance plans serve as an effective mechanism to motivate managers to make better decisions. |
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