Parrino, 1997 - Google Patents
Spinoffs and wealth transfers: The Marriott caseParrino, 1997
- Document ID
- 16538321062341702435
- Author
- Parrino R
- Publication year
- Publication venue
- Journal of Financial Economics
External Links
Snippet
This paper examines changes in bondholder and shareholder wealth resulting from the 1993 Marriott spinoff. It documents a wealth transfer from bondholders to shareholders and a decline in the total value of the firm following the spinoff announcement. Subsequent …
- 230000004048 modification 0 abstract description 3
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