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.
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.
Announcement Effects of China's Listed Firms' Divestitures
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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