Corporate spin-offs value creation : parent & spin-off view
Corporate spin-offs have gained popularity over the past few years. Despite of this in Finnish media and university teaching this phenomenon has gained little attention. This study aims to fulfill this knowledge gap. Spin-off is a restructuring procedure where company splits into two separate legal entities via pro-rata transaction basis. I researched this phenomenon by event-study methodology which has been quite popular also in earlier studies. I have com-pared parent and spin-off stock performance in order to reveal potential value gains for investors. Parent company is analyzed also from the announcement period where we find strong positive abnormal returns associated with announcement of spin-offs. However by comparing spin-off execution period abnormal returns I find that spin-offs performed worse than their former parents. I find no evidence that in short term spin-offs were valued more than their former parents by investors.
MetadataShow full item record
- Pro gradu -tutkielmat 
Showing items with similar title or keywords.
Organisaatiokulttuurin ja johtajuusidentiteetin merkitys matriisiorganisaatiomuutoksessa : case-tutkimus Varis, Keijo (Jyväskylän yliopisto, 2012)
Understanding change management through the psychological ownership framework : examination of antecedents of successful change Luoma, Jenni J. M. (University of Jyväskylä, 2015)
Laaksonen, Salla-Maaria; Villi, Mikko (Cogitatio, 2022)This thematic issue explores the widening scope of media work and the institutional and organizational conditions that support new forms of media work. The media industry has undergone significant economic, structural, and ...
"Switch the lights off” : Employee argumentation on acceptance or rejection of corporate environmentalism in a financial corporation Onkila, Tiina (CRR Conference, 2013)This study explores the rhetorical strategies used by employees in a financial corporation to reject or accept corporate environmentalism among corporate responsibilities. The study is theoretically based on rhetoric and ...
Working in higher education international affairs : understanding perceptions of organizational structure and experiences with change Tornier, Lisa-Sophie (2018)Internationalization arrived in higher education a long time ago. Student mobility is one aspect of this phenomenon, which is facilitated by international affairs staff in higher education institutions. As research to date ...