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LUO Liang-zhong, SHI Zhan-zhong. Announcement Effects of China's Listed Firms' Divestitures[J]. Journal of University of Electronic Science and Technology of China, 2006, 35(4): 573-576.
Citation: LUO Liang-zhong, SHI Zhan-zhong. Announcement Effects of China's Listed Firms' Divestitures[J]. Journal of University of Electronic Science and Technology of China, 2006, 35(4): 573-576.
shu

Announcement Effects of China's Listed Firms' Divestitures

  • 1.

    School of Business,East China University of Politics and Law Songjiang Shanghai 201620;

  • 2.

    School of Management,Shanghai Jiaotong University Xuhui Shanghai 200052

  • Received Date: 2004-03-23
  • Publish Date: 2006-08-15
  • This paper examines the announcement effects of China's listed firms' divestitures completed during 1998-2002 and finds that sample firms have positive cumulative average abnormal returns in the event windows of [-1,+1] and [0,+7]. The results shows that the corporate divestitures of China can increase shareholders' wealth in a short period around the announcement date.
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  • 1. 

    沈阳化工大学材料科学与工程学院 沈阳 110142

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Announcement Effects of China's Listed Firms' Divestitures

  • 1. School of Business,East China University of Politics and Law Songjiang Shanghai 201620;
  • 2. School of Management,Shanghai Jiaotong University Xuhui Shanghai 200052
  • Received Date: 2004-03-23
  • Publish Date: 2006-08-15

Abstract: This paper examines the announcement effects of China's listed firms' divestitures completed during 1998-2002 and finds that sample firms have positive cumulative average abnormal returns in the event windows of [-1,+1] and [0,+7]. The results shows that the corporate divestitures of China can increase shareholders' wealth in a short period around the announcement date.

LUO Liang-zhong, SHI Zhan-zhong. Announcement Effects of China's Listed Firms' Divestitures[J]. Journal of University of Electronic Science and Technology of China, 2006, 35(4): 573-576.
Citation: LUO Liang-zhong, SHI Zhan-zhong. Announcement Effects of China's Listed Firms' Divestitures[J]. Journal of University of Electronic Science and Technology of China, 2006, 35(4): 573-576.
shu

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