Divisional Informativeness Gap and Value Creation from Asset Sales

Nanda and Narayanan (1999) show that the information asymmetry between the managers and market participants regarding divisional cash flows helps explain the value creation on asset sales. Based on their theoretical framework, the divisional informativeness gap hypothesis predicts that the announcem...

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Veröffentlicht in:	The Financial review (Buffalo, N.Y.) N.Y.), 2016-11, Vol.51 (4), p.559-578
Hauptverfasser:	Desai, Chintal A., Gupta, Manu
Format:	Artikel
Sprache:	eng
Schlagworte:	asset sales cash-flow informativeness corporate restructuring Divestiture divestitures Earnings G14 G34 Sales Value creation
Online-Zugang:	Volltext
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