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dc.contributor.author
Tsirimpasi, Eirini
en
dc.date.accessioned
2019-04-18T13:55:01Z
dc.date.available
2019-04-19T00:00:14Z
dc.date.issued
2019-04-18
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/29392
dc.rights
Default License
dc.subject
Corporate sell-offs
en
dc.title
Shareholder Wealth Effects of Corporate Sell-offs
en
heal.type
masterThesis
en_US
heal.language
en
en_US
heal.access
free
en_US
heal.license
http://creativecommons.org/licenses/by-nc/4.0
en_US
heal.recordProvider
School of Economics, Business Administration and Legal Studies, MSc in Banking and Finance
en_US
heal.publicationDate
2019-04-17
heal.abstract
The aim of this study is to examine the short- and long-run shareholder wealth effects following corporate sell-offs. In particular, a sample of 105 corporate sell-offs that took place in the US between 2010 and 2015 is collected to test the stock market reaction of the initial sell-off announcement. Employing the classical event study methodology, significant positive price movements are observed for the parent firms on, and around the announcement date. The results are consistent with previous studies indicating that shareholders generate wealth gains in the short horizon. On the other hand, insignificant negative price movements are detected for up to two years following the initial sell-off announcement. However, the positive return performance from 6 months to 12 months after the announcement implies that shareholders benefit if firms manage to allocate efficiently the proceeds from the deal. Furthermore, despite the fact that changes in the operating performance of sellers are not significant, the results provide evidence that sell-offs improve their post operating performance.
en
heal.advisorName
Dasilas, Apostolos
en
heal.committeeMemberName
Leventis, Stergios
en
heal.committeeMemberName
Grose, Christos
en
heal.academicPublisher
IHU
en
heal.academicPublisherID
ihu
en_US


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