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The Positive Announcement‐Period Returns of Equity Carveouts: Asymmetric Information or Divestiture Gains?

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References

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1986Equity issues and offering dilution1,397 cited
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1996The Impact of Industry Classifications on Financial Research377 cited
1986A comparison of equity carve-outs and seasoned equity offerings362 cited
1999

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Firm performance and focus: long-run stock market performance following spinoffs

345 cited

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2008Going Public to Acquire? The Acquisition Motive in IPOs78 cited
2008Research on corporate divestitures: A synthesis77 cited
2012The divestiture of acquired subunits: A resource dependence approach76 cited
2009How Much of the Diversification Discount Can be Explained by Poor Corporate Governance?71 cited
2002Value Creation from Equity Carve-Outs66 cited
2007Thirty Years After Michael E. Porter: What Do We Know About Business Exit?64 cited
2008Corporate Restructuring: Breakups and LBOs53 cited
2019Board demography and divestitures: The impact of gender and racial diversity on divestiture rate and divestiture returns52 cited
2005On Corporate Divestiture52 cited
2003Deciphering the Motives for Equity Carve‐Outs49 cited
2005The Choice between Joint Ventures and Acquisitions: Insights from Signaling Theory47 cited
2011Vertical divestitures through equity carve-outs and spin-offs: A product markets perspective43 cited
2003An Investigation of the Gains from Specialized Equity Claims37 cited
2016Corporate Strategy: Tools for Analysis and Decision-Making32 cited