Spin-offs and Operating Performance

• Main Authors: CATON, Gary L., GOH, Jeremy C., KERINS, Frank
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2012
• 主題: Spin-offs; Industry-adjusted Operating Performance; Parent Company; Corporate Finance; Finance and Financial Management
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/3391; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4390/viewcontent/Spinoffs_OP_2012_pvoa.pdf

This study examines the relation between changes in industry-adjusted operating performance associated with corporate spin-offs and the market’s assessment of the spin-off as either a value increasing or value decreasing activity. I find that the average change in industry-adjusted operating perform...