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Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/55203
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dc.contributor.authorNguyen Xuan Truong-
dc.date.accessioned2017-09-14T11:02:12Z-
dc.date.available2017-09-14T11:02:12Z-
dc.date.issued2017-
dc.identifier.issn1859 -1124-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/55203-
dc.identifier.urihttp://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=b293a630-7d92-469a-afbc-ff8cee2c7f1c-
dc.description.abstractWhile numerous studies on spin-off have been done in the US and Europe, little efforts have been directed to research this area of cor-porate finance in Australia. This study investigates how market re-acts to corporate spin-offs in this country. We employ traditional event study methodology and find that market reacts strongly and positively to the announcements of spin-offs. Specifically, the cu-mulative average abnormal return over the 3-day event window is 3.58%. The cumulative average abnormal return for spin-offs by companies that increase their industrial focus is 4.12% and 3.33% for non-focused increasing spin-offs. Nevertheless, the difference between these two subgroups is statistically insignificant. Multivari-ate regressions provide evidence that high pre-leverage firms benefit more from spin-offs.-
dc.formatPortable Document Format (PDF)-
dc.publisherTrường Đại học Kinh tế Tp. Hồ Chí Minh-
dc.relation.ispartofJournal of Economic Development-
dc.relation.ispartofseriesJED, Vol.24(1)-
dc.subjectSpin-offs-
dc.subjectPrice reactions-
dc.titleHow does market react to corporate spin-offs in Australia?-
dc.typeJournal Article-
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dc.identifier.doihttp://doi.org/10.24311/jed/2017.24.1.07-
dc.format.firstpage52-
dc.format.lastpage72-
item.fulltextOnly abstracts-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.openairetypeJournal Article-
item.grantfulltextnone-
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