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- Title
An Examination of the Long-term Results of Acquired Carve-out/ Spin-off Combinations.
- Authors
THOMPSON, THOMAS H.
- Abstract
Extending the Klein, Rosenfeld and Beranek (1991) study that reports that carve-outs are a part of two stage process, we examine a special case of carve-out and carve-out/spin-off combinations (COSOs) that can be part of a three stage process. The implications are that investors can economically benefit from COSOs and that these benefits can be extended to acquired and continuing COSOs. We examine four hypotheses related to acquired COSOs. We show that independent variables explain 22% to 38% of the variation in continuing and acquired COSO third event announcement returns, respectively.
- Subjects
CORPORATE divestiture; INVESTORS; CORPORATE profits; PRODUCT returns; EARNINGS announcements
- Publication
Quarterly Journal of Finance & Accounting, 2014, Vol 52, Issue 1/2, p91
- ISSN
1939-8123
- Publication type
Article