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Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs

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  1. 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.
  2. Angélica María Sánchez-Riofrío & Luis Ángel Guerras-Martín & Francisco Javier Forcadell, 2015. "Business portfolio restructuring: a comprehensive bibliometric review," Scientometrics, Springer;Akadémiai Kiadó, vol. 102(3), pages 1921-1950, March.
  3. Ruoran Xu & Yuen Leng Chow & Joseph T.L. Ooi, 2017. "A Relook into the Impact of Divestitures in the Presence of Agency Conflicts: Evidence from Property Subsidiary Sell-Offs in China," The Journal of Real Estate Finance and Economics, Springer, vol. 55(3), pages 313-344, October.
  4. Wallace N. Davidson III & James L. McDonald, 1987. "Evidence Of The Effect On Shareholder Wealth Of Corporate Spinoffs: The Creation Of Royalty Trusts," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(4), pages 321-328, December.
  5. Sai Ding & Alessandra Guariglia & John Knight & Junhong Yang, 2021. "Negative Investment in China: Financing Constraints and Restructuring versus Growth," Economic Development and Cultural Change, University of Chicago Press, vol. 69(4), pages 1411-1449.
  6. Ephraim Clark & Patrick Rousseau & Magid Gadad, 2010. "Investor Valuation of the Abandonment Option: Empirical Evidence from UK Divestitures 1985-1991," Multinational Finance Journal, Multinational Finance Journal, vol. 14(3-4), pages 291-317, September.
  7. Missaka Warusawitharana, 2007. "Corporate asset purchases and sales: theory and evidence," Finance and Economics Discussion Series 2007-27, Board of Governors of the Federal Reserve System (U.S.).
  8. Manuel Portugal Ferreira & Nuno R. Reis & Roberta M. Paula & Claudia Frias Pinto, 2017. "Structural and longitudinal analysis of the knowledge base on spin-off research," Scientometrics, Springer;Akadémiai Kiadó, vol. 112(1), pages 289-313, July.
  9. Karen Y. Jang, 2020. "Corporate Assets and Enhancing Firm Value: Evidence from the Market for Bank Branches in the US," Journal of Financial Services Research, Springer;Western Finance Association, vol. 57(3), pages 253-286, June.
  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. Prezas, Alexandros P. & Simonyan, Karen, 2015. "Corporate divestitures: Spin-offs vs. sell-offs," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 83-107.
  12. Daniel Bartsch & Christoph J. Börner, 2007. "Werteffekte strategischer Desinvestitionen — Eine empirische Untersuchung am deutschen Kapitalmarkt," Schmalenbach Journal of Business Research, Springer, vol. 59(1), pages 2-34, February.
  13. Chen, Fan & Sanger, Gary C. & Slovin, Myron B., 2013. "Asset sales in the mutual fund industry: Who gains?," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4834-4849.
  14. Sibilkov, Valeriy & Straska, Miroslava & Waller, H. Gregory, 2013. "The value implications of restrictions on asset sales," Review of Financial Economics, Elsevier, vol. 22(3), pages 98-108.
  15. Sheng-Syan Chen & I-Ju Chen, 2011. "Inefficient Investment and the Diversification Discount: Evidence from Corporate Asset Purchases," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 38(7-8), pages 887-914, September.
  16. Paul Docherty & Steve Easton, 2014. "A note on the pricing of Australian government asset sales," Australian Journal of Management, Australian School of Business, vol. 39(3), pages 415-423, August.
  17. Rolf Bühner, 1998. "Unternehmensspaltung — Motive und Aktienmarktreaktionen," Schmalenbach Journal of Business Research, Springer, vol. 50(9), pages 809-840, September.
  18. Benou, Georgina & Madura, Jeff & Ngo, Thanh, 2008. "Wealth creation from high-tech divestitures," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(3), pages 505-519, August.
  19. Jonathan Wiley & Brandon Cline & Xudong Fu & Tian Tang, 2012. "Valuation Effects for Asset Sales," Journal of Financial Services Research, Springer;Western Finance Association, vol. 41(3), pages 103-120, June.
  20. Terrance R. Skantz & Roberto Marchesini, 1987. "The Effect Of Voluntary Corporate Liquidation On Shareholder Wealth," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 10(1), pages 65-75, March.
  21. Vinay Patel, 2015. "Price Discovery in US and Australian Stock and Options Markets," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 27, July-Dece.
  22. Warusawitharana, Missaka, 2008. "Corporate asset purchases and sales: Theory and evidence," Journal of Financial Economics, Elsevier, vol. 87(2), pages 471-497, February.
  23. Judith F. Posnikoff, 1997. "Disinvestment From South Africa: They Did Well By Doing Good," Contemporary Economic Policy, Western Economic Association International, vol. 15(1), pages 76-86, January.
  24. 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.
  25. Mella-Barral, P. & Sabourian, H., 2023. "Repeated Innovations and Excessive Spin-Offs," Cambridge Working Papers in Economics 2347, Faculty of Economics, University of Cambridge.
  26. Decker, Carolin & Mellewigt, Thomas, 2007. "The drivers and implications of business divestiture: An application and extension of prior findings," SFB 649 Discussion Papers 2007-054, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
  27. Lou, Fang & Wang, Jiwei & Yuan, Hongqi, 2014. "Causes and consequences of corporate asset exchanges by listed companies in China," International Review of Economics & Finance, Elsevier, vol. 31(C), pages 205-217.
  28. Mavis, Christos P. & McNamee, Nathan P. & Petmezas, Dimitris & Travlos, Nickolaos G., 2020. "Selling to buy: Asset sales and acquisitions," Journal of Corporate Finance, Elsevier, vol. 62(C).
  29. Qing Li & David C. Ling & Masaki Mori & Seow Eng Ong, 2020. "The Wealth Effects of REIT Property Acquisitions and Dispositions: the Creditors’ Perspective," The Journal of Real Estate Finance and Economics, Springer, vol. 60(3), pages 308-337, April.
  30. von Beschwitz, Bastian, 2018. "Cash windfalls and acquisitions," Journal of Financial Economics, Elsevier, vol. 128(2), pages 287-319.
  31. Pierre Mella‐Barral & Hamid Sabourian, 2024. "Repeated innovations and excessive spin‐offs," The Financial Review, Eastern Finance Association, vol. 59(1), pages 155-179, February.
  32. Valeriy Sibilkov & Miroslava Straska & H. Gregory Waller, 2013. "The value implications of restrictions on asset sales," Review of Financial Economics, John Wiley & Sons, vol. 22(3), pages 98-108, September.
  33. Blumberg, Aryeh & Owers, James E., 1996. "The convergence of foreign direct investment and restructuring: Evidence from cross-border divestitures," Global Finance Journal, Elsevier, vol. 7(1), pages 67-87.
  34. Datta, Sudip & Iskandar-Datta, Mai & Raman, Kartik, 2003. "Value creation in corporate asset sales: The role of managerial performance and lender monitoring," Journal of Banking & Finance, Elsevier, vol. 27(2), pages 351-375, February.
  35. Jack W. Trifts & Neil W. Sicherman & Rodney L. Roenfeldt & Francisco de Cossio, 1990. "Divestiture To Unit Managers And Shareholder Wealth," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 13(2), pages 167-172, June.
  36. Julia Freybote & Frank Gyamfi-Yeboah & Alan J. Ziobrowski, 2014. "Dispositional joint ventures as REIT financing strategy," Journal of Property Research, Taylor & Francis Journals, vol. 31(2), pages 87-107, June.
  37. Jory, Surendranath R. & Madura, Jeff & Ngo, Thanh N., 2012. "Deal structure decision in the global market for divested assets," International Review of Financial Analysis, Elsevier, vol. 24(C), pages 104-116.
  38. Fee, C. Edward & Hadlock, Charles J. & Pierce, Joshua R., 2012. "What happens in acquisitions?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 584-597.
  39. Vinay Patel, 2015. "Price Discovery in US and Australian Stock and Options Markets," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 6-2015, January-A.
  40. Pascal Nguyen, 2016. "The role of the seller’s stock performance in the market reaction to divestiture announcements," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 40(1), pages 19-40, January.
  41. C. Fee & Joshua Pierce & Hoontaek Seo & Shan Yan, 2014. "Bank Debt, Flexibility, and the Use of Proceeds from Asset Sales," Journal of Financial Services Research, Springer;Western Finance Association, vol. 46(1), pages 77-97, August.
  42. Slovin, Myron B. & Sushka, Marie E. & Mantecon, Tomas P., 2007. "Analyzing joint ventures as corporate control activity," Journal of Banking & Finance, Elsevier, vol. 31(8), pages 2365-2382, August.
  43. Nwaeze, Emeka T., 2005. "Replacement versus adaptation investments and equity value," Journal of Corporate Finance, Elsevier, vol. 11(3), pages 523-549, June.
  44. Janis K. Zaima & Douglas Hearth, 1985. "The Wealth Effects Of Voluntary Selloffs: Implications For Divesting And Acquiring Firms," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 8(3), pages 227-236, September.
  45. Pereira da Silva, Paulo & Vieira, Isabel & Vieira, Carlos, 2015. "M&A operations: Further evidence of informed trading in the CDS market," Journal of Multinational Financial Management, Elsevier, vol. 32, pages 116-130.
  46. Desai, Hemang & Jain, Prem C., 1999. "Firm performance and focus: long-run stock market performance following spinoffs," Journal of Financial Economics, Elsevier, vol. 54(1), pages 75-101, October.
  47. Pascal Nguyen, 2013. "The role of firm performance in the market reaction to divestiture announcements," Economics Bulletin, AccessEcon, vol. 33(3), pages 1723-1728.
  48. Mella-Barral, P. & Sabourian, H., 2023. "Repeated Innovations and Excessive Spin-Offs," Janeway Institute Working Papers 2312, Faculty of Economics, University of Cambridge.
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