| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7873 |
| 来源ID | Working Paper 7873 |
| Asset Liquidity and Segment Divestitures | |
| Frederik P. Schlingemann; Rene M. Stulz; Ralph A. Walkling | |
| 发表日期 | 2000-09-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | We investigate a sample of firms whose number of reported segments falls by one or more for the first time in their reporting history. The firms in our sample have a significantly larger diversification discount, underperform, and underinvest relative to comparable firms. Firms are more likely to divest segments from industries with a more liquid market for corporate assets, segments unrelated to the core activities of the firm, poorly performing segments, and small segments. The liquidity of the market for corporate assets plays an important role in explaining why some firms divest assets while others stop reporting them without divesting them, and why some firms divest core segments while others divest unrelated segments. |
| 主题 | Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w7873 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565458 |
| 推荐引用方式 GB/T 7714 | Frederik P. Schlingemann,Rene M. Stulz,Ralph A. Walkling. Asset Liquidity and Segment Divestitures. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7873.pdf（129KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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