作者：BERGH, DD
摘要：This study tests the effects of ownership concentration, outside director equity holdings, and corporate strategy on, and the performance implications of, the size and relatedness of units sold by parent firms. The study is based on a model that integrates agency and resource-based theories, and a sample of sell-offs by 112 Fortune 500 firms. Ownership concentration is found to be associated positively with the sale of unrelated and small units. This relationship is strengthened when outside d...
