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The Corporate Sell-Off Decision Of Diversified Firms

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  • Thomas Lorenz Steiner

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  • Thomas Lorenz Steiner, 1997. "The Corporate Sell-Off Decision Of Diversified Firms," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(2), pages 231-241, June.
    • Handle: RePEc:bla:jfnres:v:20:y:1997:i:2:p:231-241
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    File URL: http://hdl.handle.net/10.1111/j.1475-6803.1997.tb00246.x
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    References listed on IDEAS

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    1. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    2. Lichtenberg, Frank R., 1992. "Industrial de-diversification and its consequences for productivity," Journal of Economic Behavior & Organization, Elsevier, vol. 18(3), pages 427-438, August.
    3. repec:bla:jfinan:v:44:y:1989:i:4:p:971-80 is not listed on IDEAS
    4. Shleifer, Andrei & Vishny, Robert W., 1989. "Management entrenchment : The case of manager-specific investments," Journal of Financial Economics, Elsevier, vol. 25(1), pages 123-139, November.
    5. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    6. Kim, E. Han & Schatzberg, John D., 1987. "Voluntary corporate liquidations," Journal of Financial Economics, Elsevier, vol. 19(2), pages 311-328, December.
    7. Kaplan, Steven N & Weisbach, Michael S, 1992. "The Success of Acquisitions: Evidence from Divestitures," Journal of Finance, American Finance Association, vol. 47(1), pages 107-138, March.
    8. Yakov Amihud & Baruch Lev, 1981. "Risk Reduction as a Managerial Motive for Conglomerate Mergers," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 605-617, Autumn.
    9. Jain, Prem C, 1985. "The Effect of Voluntary Sell-off Announcements on Shareholder Wealth," Journal of Finance, American Finance Association, vol. 40(1), pages 209-224, March.
    10. Lang, Larry & Poulsen, Annette & Stulz, Rene, 1995. "Asset sales, firm performance, and the agency costs of managerial discretion," Journal of Financial Economics, Elsevier, vol. 37(1), pages 3-37, January.
    11. Dann, Larry Y. & DeAngelo, Harry, 1988. "Corporate financial policy and corporate control : A study of defensive adjustments in asset and ownership structure," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 87-127, January.
    12. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    13. repec:bla:jfinan:v:44:y:1989:i:4:p:953-70 is not listed on IDEAS
    14. Alexander, Gordon J & Benson, P George & Kampmeyer, Joan M, 1984. "Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs," Journal of Finance, American Finance Association, vol. 39(2), pages 503-517, June.
    15. Palepu, Krishna G., 1986. "Predicting takeover targets : A methodological and empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 8(1), pages 3-35, March.
    16. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
    17. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation," Scholarly Articles 29407535, Harvard University Department of Economics.
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    Cited by:

    1. Owen, Sian & Yawson, Alfred, 2006. "Domestic or international: Divestitures in Australian multinational corporations," Global Finance Journal, Elsevier, vol. 17(2), pages 282-293, December.
    2. Rolf Bühner & Jörg Digmayer, 2003. "Aktienmarktreaktionen auf die Ankündigungen von Spin-offs und Sell-offs," Schmalenbach Journal of Business Research, Springer, vol. 55(7), pages 657-677, November.

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