Chemmanur, Thomas J.; Krishnan, Karthik; Nandy, Debarshi K. - In: Journal of Corporate Finance 27 (2014) C, pp. 72-98
) efficiency improvements arise following spin-offs. We show that spin-offs increase total factor productivity (TFP) and that such … productivity improvements are long-lived. This post spin-off productivity improvement can be attributed to cost savings but not to …-off. We identify acquisitions following spin-offs and find that while productivity improvements occur immediately after the …