Kevin Kaiser and Aris Stouraitis present preliminary evidence on stock market reaction to divestiture announcements by European firms. Included in their sample are divestitures by French, German, Swedish and UK firms. Their findings include: (1) stock price reaction during initial announcements...

In this article the growing popularity of economic value added (EVA) is addressed. It discusses why managers are turning to EVA as a performance metric, how EVA is used by companies, and the problems that typically arise in implementing it. The accounts of Rhône-Poulenc are used to demonstrate...

The authors report the results of a recent large study of corporate centre transformation: a question which is often an early priority when a new chief executive takes office. This article summarises their approach to corporate centre design which maximises value creation. Recognising that there...