The motivations of, and consequences from Australian asset sales : a long-term evaluation

Turley, Christopher Mark Talbot. (2001). The motivations of, and consequences from Australian asset sales : a long-term evaluation Honours Thesis, School of Business, The University of Queensland.

       
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Author Turley, Christopher Mark Talbot.
Thesis Title The motivations of, and consequences from Australian asset sales : a long-term evaluation
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 2001
Thesis type Honours Thesis
Total pages 99
Language eng
Subjects 1503 Business and Management
Formatted abstract This thesis provides the first long-run examination of asset sales in the Australian Corporate Environment. By examining both operating performance and market measures over both the period preceding and the period following the asset sale, a complete picture of the event, including its motivations, and consequences can be viewed. On average it is found that firms participating in asset sales are burdened by a period of significant under-performance preceding the event. In the period following the sale, firm performance reverts to similar levels as size and industry matched firms, highlighting the possible 'success' in the asset sale.

Further this thesis provides an opportunity to test the currently popular financial and strategic theories, over the long-term horizon. While the strategic theory currently gains the most attention from academics as the dominant explanatory factor of firm improvement, the results provided highlight the significant importance of considering the financial theory in the evaluation of potential investment opportunities.

 
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Created: Thu, 18 Nov 2010, 15:37:45 EST by Muhammad Noman Ali on behalf of The University of Queensland Library