TY  - JOUR
AB  - The present article studies wealth effects of global spin-off announcements of the chemical and pharmaceutical industry that were announced between January 2001 and October 2019. The cumulative average abnormal return over the 3-day event window is 3.91%. This result is significant at the 0.1%-level. Moreover, varying the event-window and utilizing a second statistical approach strongly supports these findings by yielding similar results at a 0.2% significance level which is rare for the event study methodology. This study strongly corroborates the hypothesis that wealth effects associated with spin-off announcements are very strong in the chemical and pharmaceutical industry.
AU  - Smolnik, Tim
DA  - 2020
DO  - 10.17879/91129602734
LA  - eng
IS  - Journal of Business Chemistry
M2  - 131
N1  - Section "Research Paper"
PY  - 2020
SP  - 131-150
T2  - Journal of Business Chemistry
TI  - Wealth effects of corporate spin-offs – An event study analysis of the chemical and pharmaceutical industry
UR  - https://nbn-resolving.org/urn:nbn:de:hbz:6-91129603009
Y2  - 2024-11-22T06:59:10
ER  -