Purpose: The purpose of this paper is to provide a SAS program for an efficient portfolio given a short sale restriction. Design/methodology/approach: We provide a 50-stock portfolio given 50 weekly stock returns. We contrast results with a 50-stock portfolio without a restriction. Findings: We...

Purpose – The purpose of this paper is to provide a comprehensive initial evaluation of the wealth transfer hypothesis as applied to the second-stage events and announcements that follow carve-outs during the period from 1983 to 2004. Design/methodology/approach – Using daily security...

Purpose – The purpose of this paper is to provide a comprehensive initial evaluation of the changing issuer objective and partial price adjustment hypotheses as applied to carve-out parent initial and three-year returns for the period 1988-2006. Design/methodology/approach – Using five...

Purpose – The purpose of this paper is to provide a comprehensive initial evaluation of divestiture gains for reacquired carve-out parent and subsidiary second event and three-year returns for the period 1980-2010. Design/methodology/approach – Using several variables, we contrast reacquired...