Recent research has shown that ownership restructuring decisions by firms can enhance value. In particular, Allen and McConnell (1998) find that carve-outs elicit a favourable share price response for parent firms at the time the carve-outs are reported. One explanation is that a carve-out...

Purpose – The purpose of this paper is to describe the wealth expropriation from minority to majority shareholders due to the lack of legislation protecting the interests of minority shareholders in an acquisition deal, validating the claims made on studies made by Zingales and by La Porta et...