Lan, Yu-Wei; Lin, Dan; Lin, Lu - In: Applied Economics and Finance 2 (2015) 1, pp. 44-54
This study uses a case study method to examine the spin-offs of Asus and Yulon. Both companies show negative cumulated abnormal returns after spin-off announcements and then return to the anchoring price as at the announcement day. The results are in contrast to the findings of Veld et al....