NDLI: The information content of reorganization procedures: contagion or competitive effects?

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The information content of reorganization procedures: contagion or competitive effects?

Content Provider	Springer Nature Link
Author	Tang, Tseng Chung
Copyright Year	2010
Abstract	Based on a consideration of the whole process from reorganization filing to confirmation, this paper examines the impact of corporate reorganization on both filing firms and industry rivals, and how it changes the competitive landscape of the industry. Results show that there exist intra-industry information transfers throughout the whole course of the reorganization proceedings that result in an incessant downward revaluation of the rival firms’ values. Specifically, the market reassesses the prospects of not only the filer but also of its industry rivals simultaneously. Results also show that whether a rival firm has a contagious or a competitive reaction is largely decided by firm-specific rather than industry-specific characteristics.
Starting Page	141
Ending Page	161
Page Count	21
File Format	PDF
ISSN	1617982X
Journal	Portuguese Economic Journal
Volume Number	9
Issue Number	2
e-ISSN	16179838
Language	English
Publisher	Springer-Verlag
Publisher Date	2010-05-12
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Corporate valuation Corporate reorganization Reorganization filing to confirmation Contagion effect Competitive effect Economics general
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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