Ball, Jay N.; Rutherford, Ronald C.; Shaw, Ron J. - In: Journal of Real Estate Research 8 (1993) 4, pp. 597-606
This study examines the wealth effects surrounding the separation of real estate operations via spin-off. Parent firms of spin-offs in this sample experienced a significant abnormal two-day return of 3.195% for days - 1 and 0 of the announcement data in the Wall Street Journal. Tracking the...