Collins, Denton; Henning, Steven - In: Journal of Business Finance & Accounting 31 (2004-11) 9-10, pp. 1261-1299
<heading id="h1" level="3" format="inline" implicit="no">Abstract: </heading>This paper examines investors' anticipation and subsequent interpretations of asset write-downs accompanying segment divestitures. Examining long-window returns cumulated over the two years preceding the year of divestiture, we hypothesize and find that investors anticipate...
