The Institutionalization of Divestitures
Restructuring and, therein, divestitures have become an indispensable element of corporate strategy for many firms. Divestitures, defined as a firm’s decision to dispose of a significant portion of its assets, can increase a firm’s strength by changing its asset structure and its resource allocation patterns. Miriam Flickinger investigates the stock market reaction to divestiture announcements from an institutionally-based perspective. In ...