Veld, Chris; Veld-Merkoulova, Yulia V. - In: Financial Management 37 (2008) 1, pp. 103-124
"We analyze the effect of daily stock and bond abnormal returns around spin-off announcements. Over a three-day event window, we find statistically significant abnormal returns of 3.07% for stocks and 0.11% for straight bonds. Both stock and bond abnormal returns are higher for firms with lower...