The determinants of corporate divestment: evidence from a panel of UK firms
UNSPECIFIED (2003) The determinants of corporate divestment: evidence from a panel of UK firms. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 52 (1). pp. 147-166. ISSN 0167-2681Full text not available from this repository.
It is widely perceived that during the past 15-20 years a substantial number of diversified firms have disposed of their peripheral activities to concentrate upon their core businesses. This study examines the determinants of divestment using an unbalanced panel of UK firms over the period 1985-1991. Divestment is analysed using both a proportion and count data approach. The results suggest that divestment is a purposeful response to financial, corporate governance and strategic variables and, as such, appears broadly consistent with both the agency theoretic and strategic views of the firm. (C) 2002 Elsevier Science B.V. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions|
|Journal or Publication Title:||JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION|
|Publisher:||ELSEVIER SCIENCE BV|
|Number of Pages:||20|
|Page Range:||pp. 147-166|
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