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The EU has been promoting unbundling of the transmission grid from other stages of the electricity supply chain with … the aim of fostering competition in the upstream stage of electricity generation. At presence, ownership unbundling is the … predominant form of unbundling in Europe. However, the benefits of increased competition from ownership unbundling of the …
Persistent link: https://www.econbiz.de/10011348069
This paper examines the stock price reaction to cross-border spinoff announcements and investigates whether country characteristics (such as takeover market liquidity and investor protection) cause variation in the announcements' wealth effects. We observe a positive and significant price...
Persistent link: https://www.econbiz.de/10013113904
We investigate the determinants of the choice between two forms of corporate divestitures ― spin-offs versus sell-offs. We hypothesize that the choice is driven by the pre-divestiture market valuation of divesting firms relative to their intrinsic value, the pre-divestiture performance of the...
Persistent link: https://www.econbiz.de/10013001681
Unbundling of vertically integrated utilities has become an integral element in the regulation of network industries … empirical evidence that unbundling eliminates economies of vertical integration while empirical evidence on price reducing … effects is still lacking. In this paper we study the effect of legal unbundling on grid charges in the German electricity …
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Das vorliegende Dissertationsprojekt gibt Einblicke in Unternehmensrestrukturierungen und identifiziert Leistungstreiber von Equity Carve-Out (ECO) und Spin-off. Ziel der Dissertation ist es, zu verifizieren, ob ECO- und Spin-off-Transaktionen Unternehmenswert schaffen und zu evaluieren, ob die...
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