Das vorliegende Dissertationsprojekt gibt Einblicke in Unternehmensrestrukturierungen und identifiziert Leistungstreiber von Equity Carve-Out (ECO) und Spin-off. Ziel der Dissertation ist es, zu verifizieren, ob ECO- und Spin-off-Transaktionen Unternehmenswert schaffen und zu evaluieren, ob die...

Our study is the first to provide systematic evidence of a hump-shaped CEO tenure-firm value relation. This pattern is supported by announcement returns to sudden CEO deaths, which mitigate endogeneity concerns. Cross-sectionally, firm value starts to decline after fewer years of CEO tenure in...

While empirical studies that use event-study methodology find on average that the gains from mergers and acquisitions are positive, those focusing on accounting figures tend to find a significant drop in performance. We argue that each of the four possible combinations between positive or...