Eling, Martin; Schuhmacher, Frank - Institut für Versicherungswirtschaft <St. Gallen> - 2005
In this paper, we investigate the German stock market with regard to negative stubvalues or parent company puzzles. These are situations where a firms marketvalue is less than the value of its ownership stake in a publicly traded subsidiary.According to MITCHELL/PULVINO/STAFFORD (2002), negative...
