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When does restructuring improve economic performance?
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DOI：10.2307/41165985.png)
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Abstract
En 中文
Corporate restructuring has been the focus of much debate in the past few years. This article addresses the debate about the effectiveness of corporate restructuring by examining 52 studies presented within 25 research articles on restructuring and its impact on economic performance. The authors distinguish three forms of restructuring: financial, portfolio, and organizational. Based on the research reviewed here, financial restructuring has the highest positive impact on performance, followed by portfolio restructuring. Organizational restructuring has little consistent impact on performance.
Keywords:
MANAGEMENT BUYOUTS
LEVERAGED BUYOUTS
SHAREHOLDER WEALTH
ASSET SALES
DIVESTITURE ANNOUNCEMENTS
FINANCIAL PERFORMANCE
OPERATING PERFORMANCE
EMPIRICAL-ANALYSIS
AGENCY COSTS
CORPORATE
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