The Effect of Voluntary Spin‐off Announcements on Shareholder Wealth

JAMES A. MILES; JAMES D. ROSENFELD

doi:10.1111/j.1540-6261.1983.tb03843.x

The Effect of Voluntary Spin‐off Announcements on Shareholder Wealth

JAMES A. MILES
, JAMES D. ROSENFELD

Finance

Research output: Contribution to journal › Article › peer-review

152 Scopus citations

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)
Pages (from-to)	1597-1606
Number of pages	10
Journal	The Journal of Finance
Volume	38
Issue number	5
DOIs	https://doi.org/10.1111/j.1540-6261.1983.tb03843.x
State	Published - Dec 1983

All Science Journal Classification (ASJC) codes

Accounting
Finance
Economics and Econometrics

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10.1111/j.1540-6261.1983.tb03843.x

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title = "The Effect of Voluntary Spin‐off Announcements on Shareholder Wealth",

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",

author = "MILES, \{JAMES A.\} and ROSENFELD, \{JAMES D.\}",

year = "1983",

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N2 - 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

AB - 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

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U2 - 10.1111/j.1540-6261.1983.tb03843.x

DO - 10.1111/j.1540-6261.1983.tb03843.x

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JO - The Journal of Finance

JF - The Journal of Finance

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The Effect of Voluntary Spin‐off Announcements on Shareholder Wealth

Abstract

All Science Journal Classification (ASJC) codes

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