Allen, Jeffrey W.; Lummer, Scott L.; McConnell, John J.; … - In: Journal of Financial and Quantitative Analysis 30 (1995) 04, pp. 465-485
This paper evaluates the conjecture that excess stock returns that have been documented around the announcement of corporate spin-offs represent, at least in part, the re-creation of value destroyed at the time of an earlier acquisition. We evaluate this question with a sample of spin-offs that...
