Value Creation in European Equity Carve-Outs

Value Creation in European Equity Carve-Outs

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Employing the most comprehensive sample of European carve-outs to date, Nikolas Pojezny analyzes the performance of carve-outs along various dimensions: Both the reaction of parent firms to the announcement of a carve-out as well as share price and operating performance in a multi-year window around the event are examined in detail.To test these predictions, Appendix 54 shows the number of firms experiencing a given second event classified by the first digit of the parent firma#39;s SIC code.aquot; Two interesting observations emerge: First, sell-offs occur more often than expectedanbsp;...

Title:Value Creation in European Equity Carve-Outs
Author:Nikolas Pojezny
Publisher:Springer Science & Business Media - 2007-10-24


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