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The Institutionalization of Divestitures

A Meta-Analysis of Stock Market Performance

Authors: Flickinger, Miriam

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  • ISBN 978-3-8349-9467-7
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About this book

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 performance 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.

About the authors

Dr. Miriam Flickinger promovierte bei Prof. Dr. Rolf Bühner am Lehrstuhl für Organisation und Personalwesen der Universität Passau. Sie ist als Strategiereferentin HR bei der BASF SE, Ludwigshafen, tätig.

Table of contents (7 chapters)

Buy this book

eBook $59.99
price for USA in USD (gross)
  • ISBN 978-3-8349-9467-7
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $69.99
price for USA in USD
  • ISBN 978-3-8349-1670-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
The Institutionalization of Divestitures
Book Subtitle
A Meta-Analysis of Stock Market Performance
Authors
Copyright
2009
Publisher
Gabler Verlag
Copyright Holder
Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden
eBook ISBN
978-3-8349-9467-7
DOI
10.1007/978-3-8349-9467-7
Softcover ISBN
978-3-8349-1670-9
Edition Number
1
Number of Pages
XVI, 110
Number of Illustrations
5 b/w illustrations
Topics