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» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Bethel, Jennifer-E - Liebeskind, Julia-Porter - Opler, Tim |
| Título: | Block Share Purchases and Corporate Performance |
| Fuente: | Journal of Finance. v.53, n.2. American Finance Association |
| Páginas: | pp. 605-34 |
| Año: | Apr. 1998 |
| Resumen: | This paper investigates the causes and consequences of activist block share purchases in the 1980s. The authors find that activist investors were most likely to purchase large blocks of shares in highly diversified firms with poor profitability. Activists were not less likely to purchase blocks in firms with shark repellents and employee stock ownership plans. Activist block purchases were followed by increases in asset divestitures, decreases in mergers and acquisitions, and abnormal share price appreciation. Industry-adjusted operating profitability also rose. This evidence supports the view that the market for partial corporate control plays an important role in limiting agency costs in U.S. corporations. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Liebeskind, Julia-Porter - Opler, Tim-C - Hatfield, Donald-E |
| Título: | Corporate Restructuring and the Consolidation of US Industry |
| Fuente: | Journal of Industrial Economics. v.44, n.1. Blackwell Publishers |
| Páginas: | pp. 53-68 |
| Año: | Mar. 1996 |
| Resumen: | This study examines the impact of corporate restructuring measured at the industry level on industry concentration in 695 four-digit U.S. industries in the basic, manufacturing, and services sectors between 1981 and 1989. The results show a modest increase in median industrial concentration in sample industries between 1981 and 1989. The authors find no evidence that selloffs of assets at the industry level through horizontal mergers, acquisitions, and interfirm asset sales increased U.S. industrial concentration during the 1980s. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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