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The Institutionalization of Divestitures : A Meta-Analysis of Stock Market Performance / von Miriam Flickinger
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: German Series: SpringerLink BücherPublisher: Wiesbaden : Gabler Verlag / GWV Fachverlage GmbH, Wiesbaden, 2009Description: Online-Ressource (XVI, 110S. 5 Abb, digital)ISBN:- 9783834994677
- 650
- 658.4092 23
- 332.6
- HD28-70
- HB501
Contents:
Summary: Divestiture Motives -- Theoretical Background of the Study -- Development of Hypotheses -- Methods -- Results -- Discussion and Conclusion.Summary: Restructuring and, therein, divestitures have become an indispensable element of corporate strategy for many firms. Divestitures, defined as a firm’s decision to dispose of a significant portion of its assets, can increase a firm’s strength by changing its asset structure and its resource allocation patterns. Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. In the spirit of organizational theory, this perspective applies the processes of institutionalization to capital markets. It analyzes how organizational practices and policies are perceived by a capital market in which socio-organizational factors play an influential role. Using meta-analytic procedures, the author extends the present financially dominated understanding of divestiture performance implications and offers a new rationale to why shareholders consider divestitures positively. Results show that divestitures are socially embedded when the value of a firm’s divestiture depends on the prevailing institutional logics within the business society.PPN: PPN: 1648315526Package identifier: Produktsigel: ZDB-2-SEB | ZDB-2-SWI
Preliminary; Introduction; Divestiture Motives; Theoretical Background of the Study; Development of Hypotheses; Methods; Results; Discussion and Conclusion; Back matter
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