Spin-off as a financial strategy: study on determinants

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dc.contributor.advisorForte, Denis
dc.contributor.advisor1Latteshttp://lattes.cnpq.br/0075062531510292por
dc.contributor.authorIkeda, Wilson Eduardo
dc.creator.Latteshttp://lattes.cnpq.br/9175414168973193por
dc.date.accessioned2021-12-13T18:18:48Z
dc.date.available2021-12-13T18:18:48Z
dc.date.issued2021-08-06
dc.description.abstractThis is a multi-country event study that involved 1,032 spin-off transactions with 921 parents’ companies and 1,101 subsidiaries. We assessed spin-off determinants for short- and long-term performance. Moreover, we investigated whether is adequate to compare market returns of companies from several countries using their local index. Our short-term (CAR) results were aligned with previous studies with a CAR near the event window of +1.6%, p<0.01. Long-term (BHAR) for the parent was -4.86%, p<0.01, for the subsidiary was -0.47%, non-significant, and combined -2.93%, p<0.01. There is no apparent influence of potential determinants for CAR or BHAR. Grouping the best-performing companies versus the worst performance, we found a similar profile in both groups. These observations were made for CAR and BHAR results.eng
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dc.identifier.citationIKEDA, Wilson Eduardo. Spin-off as a financial strategy: study on determinants. 2021. 125 f. Dissertação (Mestardo em Administração de Empresas) - Universidade Presbiteriana Mackenzie, São Paulo. 2021.por
dc.identifier.urihttps://dspace.mackenzie.br/handle/10899/28381
dc.keywordsspin-offeng
dc.keywordsdeterminantseng
dc.keywordsCAReng
dc.keywordsBHAReng
dc.keywordsmulti-countries event studyeng
dc.languageporpor
dc.publisherUniversidade Presbiteriana Mackenziepor
dc.rightsAcesso Abertopor
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectspin-offpor
dc.subjectdeterminantspor
dc.subjectCARpor
dc.subjectBHARpor
dc.subjectmulti-country event studypor
dc.subject.cnpqCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESASpor
dc.titleSpin-off as a financial strategy: study on determinantspor
dc.typeDissertaçãopor
local.contributor.board1Nakamura, Wilson Toshiro
local.contributor.board1Latteshttp://lattes.cnpq.br/1327686935533816por
local.contributor.board2Betrancea, Larissa Margareta
local.contributor.board2Lattes.por
local.publisher.countryBrasilpor
local.publisher.departmentCentro de Ciências Sociais e Aplicadas (CCSA)por
local.publisher.initialsUPMpor
local.publisher.programAdministração de Empresaspor
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