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...

In 2018, California became the first U.S. state to introduce a mandatory board gender quota for all firms headquartered in the state. Even though the constitutionality of the law is still debated, we document large negative announcement returns of -2.6% to the adoption of the gender quota for...

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. Furthermore, the hump shape is subject to meaningful cross-sectional variation: firm...