.... Carve‐outs Divestitures Acquisitions and mergers Returns Divestment Parent companies Subsidiaries Extending the Klein et al. (1991) carve‐out announcement study that observes that carve‐outs (partial IPOs) are temporary corporate revisions, we contrast reacquired carve‐out (RACO...

... Emerald Group Publishing Limited 2010 Divestment Wealth Bonds Securities Parent companies This study makes several contributions to the literature. First, in contrast with recent wealth transfer studies that use monthly bond returns, we use daily stock and bond returns to examine...

... analysis is used to measure the relationship between abnormal returns (dependent variable) and efficiency (independent variable), along with a set of control variables. Findings The results show that acquirers, targets and divesting firms all have significant positive abnormal returns around...