The Relation Between Corporate Divestiture and Cumulative Abnormal Return of Stock
碩士 === 東吳大學 === 會計學系 === 106 === This purpose of the study is to assess the relation between corporate divestiture and cumulative abnormal return of stock, the difference of cumulative abmormal return between equity carve-outs and spin-offs, and how information assymetry, division of labor and speci...
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| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
2018
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| Online Access: | http://ndltd.ncl.edu.tw/handle/qmb3uu |
| Summary: | 碩士 === 東吳大學 === 會計學系 === 106 === This purpose of the study is to assess the relation between corporate divestiture and cumulative abnormal return of stock, the difference of cumulative abmormal return between equity carve-outs and spin-offs, and how information assymetry, division of labor and specialization, division scale affect the cumulative abnormal return of stock. Market model is adopted. The results reveal that (a) the cumulative abnormal return is negative after announcement, but positive before announcement. (b) the cumulative abnormal return from equity carve-outs are higher than that in spinoffs. (c) division of labor and specialization and division scale are significantly related to cumulative abnormal return of stocks.
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