The institutionalization of divestitures: a meta-analysis of stock market performance
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Wiesbaden
Gabler
2009
|
| Edition: | 1. ed. |
| Series: | Gabler Edition Wissenschaft
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Physical Description: | XVI, 110 S. graph. Darst. |
| ISBN: | 9783834916709 |
Staff View
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Record in the Search Index
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|---|---|
| adam_text | Contents
Index
of Tables
Index
of Figures
Index of Abbreviations
1
Introduction
2
Divestiture Motives
5
2.1
Motives for all Types of Divestitures
5
2.2
Motives for Individual Types of Divestitures
8
3
Theoretical Background of the Study
13
3.1
Sources of Legitimacy
14
3.2
The Process of Institutionalization
19
4
Development of Hypotheses
23
4.1
Isomorphism
23
4.2
Change in Institutional Logics
30
4.3
Framing
34
4.4
Effects of Divestiture Type
37
5
Methods
43
5.1
Meta-Analytic Technique
43
5.2
Literature Search
48
5.3
Coding Procedures
54
5.4
Moderator Analysis
58
6
Results
61
6.1
Full Sample Analysis and Indicators of Moderation
61
6.2
Hypothesized Effects
62
6.3
Exploratory Analysis
69
7
Discussion and Conclusion
73
7.1
Theoretical Contributions
73
7.2
Managerial Implications
77
7.3
Limitations
78
References
81
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 the spirit of organizational theory, this
perspective applies the processes of institutionalization to
capital markets. It analyzes how organizational practices
and policies are perceived by a capital market in which
socio-organizational factors play an influential role. Using
meta-analytic procedures, the author extends the present
financially dominated understanding of divestiture perform¬
ance implications and offers a new rationale to why
shareholders consider divestitures positively. Results show
that divestitures are socially embedded when the value of
a firm s divestiture depends on the prevailing institutional
logics within the business society.
This book is essential reading for researchers and students
from the fields of strategic management, finance, and M&A
as well as practitioners interested in M&A research and
processes of institutionalization in financial markets.
|
| any_adam_object | 1 |
| author | Flickinger, Miriam |
| author_facet | Flickinger, Miriam |
| author_role | aut |
| author_sort | Flickinger, Miriam |
| author_variant | m f mf |
| building | Verbundindex |
| bvnumber | BV035404531 |
| classification_rvk | QP 340 QP 442 QP 720 |
| ctrlnum | (OCoLC)463782210 (DE-599)DNB992960673 |
| dewey-full | 332.6 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.6 |
| dewey-search | 332.6 |
| dewey-sort | 3332.6 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. ed. |
| format | Thesis Book |
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| indexdate | 2024-07-09T21:34:29Z |
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| spelling | Flickinger, Miriam Verfasser aut The institutionalization of divestitures a meta-analysis of stock market performance Miriam Flickinger 1. ed. Wiesbaden Gabler 2009 XVI, 110 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Gabler Edition Wissenschaft Zugl.: Passau, Univ., Diss., 2009 Ankündigungseffekt stw Börsenkurs stw Meta-Analyse stw Organisatorischer Wandel stw Reorganisation stw Theorie stw Unternehmen - Restrukturierung - Desinvestition - Anlageverhalten Unternehmensentflechtung stw Welt stw Ausgliederung (DE-588)4127680-2 gnd rswk-swf Anlageverhalten (DE-588)4214003-1 gnd rswk-swf Desinvestition (DE-588)4011517-3 gnd rswk-swf Going Public (DE-588)4219438-6 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Restrukturierung (DE-588)4335640-0 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Unternehmen (DE-588)4061963-1 s Restrukturierung (DE-588)4335640-0 s Desinvestition (DE-588)4011517-3 s Anlageverhalten (DE-588)4214003-1 s DE-604 Ausgliederung (DE-588)4127680-2 s Going Public (DE-588)4219438-6 s b DE-604 Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017325118&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Passau application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017325118&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Flickinger, Miriam The institutionalization of divestitures a meta-analysis of stock market performance Ankündigungseffekt stw Börsenkurs stw Meta-Analyse stw Organisatorischer Wandel stw Reorganisation stw Theorie stw Unternehmen - Restrukturierung - Desinvestition - Anlageverhalten Unternehmensentflechtung stw Welt stw Ausgliederung (DE-588)4127680-2 gnd Anlageverhalten (DE-588)4214003-1 gnd Desinvestition (DE-588)4011517-3 gnd Going Public (DE-588)4219438-6 gnd Unternehmen (DE-588)4061963-1 gnd Restrukturierung (DE-588)4335640-0 gnd |
| subject_GND | (DE-588)4127680-2 (DE-588)4214003-1 (DE-588)4011517-3 (DE-588)4219438-6 (DE-588)4061963-1 (DE-588)4335640-0 (DE-588)4113937-9 |
| title | The institutionalization of divestitures a meta-analysis of stock market performance |
| title_auth | The institutionalization of divestitures a meta-analysis of stock market performance |
| title_exact_search | The institutionalization of divestitures a meta-analysis of stock market performance |
| title_full | The institutionalization of divestitures a meta-analysis of stock market performance Miriam Flickinger |
| title_fullStr | The institutionalization of divestitures a meta-analysis of stock market performance Miriam Flickinger |
| title_full_unstemmed | The institutionalization of divestitures a meta-analysis of stock market performance Miriam Flickinger |
| title_short | The institutionalization of divestitures |
| title_sort | the institutionalization of divestitures a meta analysis of stock market performance |
| title_sub | a meta-analysis of stock market performance |
| topic | Ankündigungseffekt stw Börsenkurs stw Meta-Analyse stw Organisatorischer Wandel stw Reorganisation stw Theorie stw Unternehmen - Restrukturierung - Desinvestition - Anlageverhalten Unternehmensentflechtung stw Welt stw Ausgliederung (DE-588)4127680-2 gnd Anlageverhalten (DE-588)4214003-1 gnd Desinvestition (DE-588)4011517-3 gnd Going Public (DE-588)4219438-6 gnd Unternehmen (DE-588)4061963-1 gnd Restrukturierung (DE-588)4335640-0 gnd |
| topic_facet | Ankündigungseffekt Börsenkurs Meta-Analyse Organisatorischer Wandel Reorganisation Theorie Unternehmen - Restrukturierung - Desinvestition - Anlageverhalten Unternehmensentflechtung Welt Ausgliederung Anlageverhalten Desinvestition Going Public Unternehmen Restrukturierung Hochschulschrift |
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