The Wealth Effects of Real Estate Spin-Offs

Abstract

This study examines the wealth effects surrounding the separation of real estate operations via spin-off. Parent firms of spin-offs in this sample experienced a significant abnormal two-day return of 3.195% for days-1 and 0 of the announcement date in the Wall Street Journal. Tracking the performance of the spun off firms and the parent firms that survived for twenty-four months after the spin-off showed that neither the portfolio of subsidiaries nor the portfolio of parent firms earned returns significantly different from the market portfolio.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 27 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.