Abstract
This paper presents estimates of the effect of a voluntary spin‐off announcement on shareholder wealth. The results show that spin‐off announcements have a positive influence on stock prices and that the relative increase in share price is greater for large spin‐offs than for small ones. 1983 The American Finance Association
Original language | English (US) |
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Pages (from-to) | 1597-1606 |
Number of pages | 10 |
Journal | The Journal of Finance |
Volume | 38 |
Issue number | 5 |
DOIs | |
State | Published - Dec 1983 |
All Science Journal Classification (ASJC) codes
- Accounting
- Finance
- Economics and Econometrics