Journal article
Divestitures and the liquidity of the market for corporate assets
Journal of financial economics, v 64(1), pp 117-144
01 Apr 2002
Abstract
The liquidity of the market for corporate assets plays an important role in explaining whether a firm divests a business segment, which segment the firm divests, and whether it divests a core segment or an unrelated segment. Firms are more likely to divest segments from industries with a more liquid market for corporate assets, unrelated segments, poorly performing segments, and small segments. Strikingly, the segment with the least liquid market is less likely to be divested than the best-performing segment, while the worst-performing segment is less likely to be divested than the segment with the most liquid market.
Metrics
Details
- Title
- Divestitures and the liquidity of the market for corporate assets
- Creators
- Frederik P. Schlingemann - University of PittsburghRené M. Stulz - Fisher CollegeRalph A. Walkling - Fisher College
- Publication Details
- Journal of financial economics, v 64(1), pp 117-144
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:000175598900005
- Scopus ID
- 2-s2.0-0036232278
- Other Identifier
- 991021881391804721
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Business, Finance
- Economics