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Désengagements et recentrages en France : 1986-1992

  • Frédéric Perdreau

    ()

    (COACTIS - Université Lumière - Lyon II : EA4161 - Université Jean Monnet - Saint-Etienne)

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    Dans un premier temps, la spécificité des trajectoires de recentrage par désengagements est mise en évidence par une mesure quantitative de la diversité des activités de grandes firmes industrielles françaises. La performance de ces opérations est ensuite étudiée à travers deux perspectives complémentaires : l'amélioration de la profitabilité et l'instauration de nouveaux rapports entre actionnaires et dirigeants.

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    File URL: http://halshs.archives-ouvertes.fr/docs/00/52/05/94/PDF/FCS98_word.pdf
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    Paper provided by HAL in its series Post-Print with number halshs-00520594.

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    Date of creation: 1998
    Date of revision:
    Publication status: Published, Finance Contrôle Stratégie, 1998, 1, 2, 137-165
    Handle: RePEc:hal:journl:halshs-00520594
    Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00520594/en/
    Contact details of provider: Web page: http://hal.archives-ouvertes.fr/

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    11. Barber, Brad M. & Lyon, John D., 1996. "Detecting abnormal operating performance: The empirical power and specification of test statistics," Journal of Financial Economics, Elsevier, vol. 41(3), pages 359-399, July.
    12. Yakov Amihud & Baruch Lev, 1981. "Risk Reduction as a Managerial Motive for Conglomerate Mergers," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 605-617, Autumn.
    13. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    14. Alex Jacquemin, 1975. "Une mesure entropique de la diversification des entreprises," Revue Économique, Programme National Persée, vol. 26(5), pages 834-838.
    15. John, Kose & Ofek, Eli, 1995. "Asset sales and increase in focus," Journal of Financial Economics, Elsevier, vol. 37(1), pages 105-126, January.
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