Do Spinoffs Create Value in Hong Kong?

• Main Authors: Tai-Leung, Terence Chong, Wai-Hong, Daniel Wong, Liew, Venus Khim-Sen
• Format: Article
• Language: English
• Published: Emerald Group Publishing Limited 2006
• Subjects: HB Economic Theory
• Online Access: http://ir.unimas.my/id/eprint/16678/1/Terence.pdf; http://ir.unimas.my/id/eprint/16678/; http://www.emeraldinsight.com/doi/abs/10.1108/15587890980000416

There is a broad consensus in the literature that spinoffs tend to create value for shareholders and exhibit positive long-run excess returns. However, most of the prior studies are confined to the US and the European cases. The spinoff problems in Hong Kong are surprisingly under-studied despite i...