Sökning: "Yaroslava Obertas"

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  1. 1. Value creation from spin-offs: European evidence over 1998 - 2015

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Alexandra Claesson; Yaroslava Obertas; [2015]
    Nyckelord :Spin-off; Demerger; Efficient market;

    Sammanfattning : We investigate the short term and long term abnormal returns of spin-offs over the 1998 - 2015 period by measuring the abnormal returns for parents at announcement and abnormal returns for spin-offs and their parent firms for periods of up to three years following the completion of the spin-off. The research is performed by event study of parent firm return around the announcement of the spin-offs and by benchmark portfolios of parent and subsidiaries against the Fama-French three-factor model. LÄS MER