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La cession de coentreprise:simple cession d’actifs ou cession spécifique?Analyse des réactions des marchés boursiers européens

Author

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  • Pierre-Xavier Meschi

    (Université de la Méditerranée et Euromed Marseille)

Abstract

(VF)Les cessions de coentreprise sont-elles des opérations créatrices de valeur pour les actionnaires? En se plaçant sous l’angle de la valorisation boursière, les cessions de coentreprise se distinguent-elles des autres opérations de cession ? Ces deux questions ont été traitées en utilisant une méthodologie d’étude d’événements dans le cadre d’un échantillon de 148 annonces de cession de coentreprise. (VA)Do joint venture sell-offs create value for shareholders? In terms of stock market valuation, can we distinguish joint venture sell-offs from other types of spin-off ? These two questions are addressed by using event study methodology. The latter is applied to a sample of 148 joint venture sell-off announcements.

Suggested Citation

  • Pierre-Xavier Meschi, 2004. "La cession de coentreprise:simple cession d’actifs ou cession spécifique?Analyse des réactions des marchés boursiers européens," Revue Finance Contrôle Stratégie, revues.org, vol. 7(1), pages 117-150.
    • Handle: RePEc:dij:revfcs:v:7:y:2004:i:q1:p:117-150
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    More about this item

    Keywords

    coentreprise; cession d’actifs; rentabilités anormales; motifs de cession; recentrage; joint venture; sell-off; abnormal returns; sell-off motives; refocusing.;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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