Chemmanur, Thomas J.; Jordan, Bradford D.; Liu, Mark H.; … - In: Journal of Banking & Finance 34 (2010) 4, pp. 813-824
We analyze the relation between antitakeover provisions (ATPs) and the performance of spin-off firms. We find that firms protected by more ATPs before spin-offs have higher abnormal announcement returns and greater improvements in post-spin-off operating performance than firms with fewer ATPs....