The Institutionalization of Divestitures A Meta-Analysis of Stock Market Performance
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Sprache:Deutsch, Englisch
Fr. 69.90
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Beschreibung
Produktdetails
Einband
Taschenbuch
Erscheinungsdatum
26.05.2009
Abbildungen
XVI, mit 5 Abbildungen, schwarz-weiss Illustrationen
Verlag
Betriebswirtschaftlicher Verlag GablerSeitenzahl
110
Maße (L/B/H)
21/14.8/0.9 cm
Gewicht
177 g
Auflage
1. Auflage
Sprache
Deutsch, Englisch
ISBN
978-3-8349-1670-9
Restructuring and, therein, divestitures have become an indispensable element of corporate strategy for many firms. Divestitures, defined as a firm’s decision to dispose of a significant portion of its assets, can increase a firm’s strength by changing its asset structure and its resource allocation patterns.
Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. In the spirit of organizational theory, this perspective applies the processes of institutionalization to capital markets. It analyzes how organizational practices and policies are perceived by a capital market in which socio-organizational factors play an influential role. Using meta-analytic procedures, the author extends the present financially dominated understanding of divestiture performance implications and offers a new rationale to why shareholders consider divestitures positively. Results show that divestitures are socially embedded when the value of a firm’s divestiture depends on the prevailing institutional logics within the business society.
Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. In the spirit of organizational theory, this perspective applies the processes of institutionalization to capital markets. It analyzes how organizational practices and policies are perceived by a capital market in which socio-organizational factors play an influential role. Using meta-analytic procedures, the author extends the present financially dominated understanding of divestiture performance implications and offers a new rationale to why shareholders consider divestitures positively. Results show that divestitures are socially embedded when the value of a firm’s divestiture depends on the prevailing institutional logics within the business society.
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