The Effect of Long-term Performance Plans on Corporate Sell-Off-Induced Abnormal Returns
This study examines the association between long-term performance plans and wealth effects accruing to stockholders of divesting firms at announcements of sell-off propos als. The results indicate that divesting companies with long-term per formance plans experience a more favorable stock-market reaction at t he announcement of sell-off proposals relative to firms without long- term performance plans. The findings imply that longterm performance plans serve as an effective mechanism to motivate managers to make better decisions. Copyright 1987 by American Finance Association.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 42 (1987)
Issue (Month): 4 (September)
|Contact details of provider:|| Web page: http://www.afajof.org/|
More information through EDIRC
|Order Information:||Web: http://www.afajof.org/membership/join.asp|
When requesting a correction, please mention this item's handle: RePEc:bla:jfinan:v:42:y:1987:i:4:p:933-42. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.