We shed light on the drivers and consequences of turnover in human resources for U.K. football industry. employ an event study using daily panel data player transfers a group listed clubs. Our results suggest asymmetric wealth effects: acquisition players is associated with negative abnormal club stock returns while sales have opposite effect. According to our findings, shareholders perceive th...

This study was conducted to analyze government intervention in the management of state-owned enterprises some selected Sunyani municipality, Ghana using a survey design. Using quantitative research design, structured questionnaire main instrument obtain data from 228 respondents estimated 1394 population. SPSS used data. The discovered that strategies include supervision operations by Ministry,...

Energy reforms play an essential role in technological change as they aim to contribute open market: costs reduction, competitiveness, and technology development. This article seeks assess the impact effect of on energy sector. The article’s objective is evaluate process deregulation policies their micro macroeconomic effects sector, specifically electricity, by analyzing literature related ele...

The views expressed in this paper are those of the author and do not necessarily reflect the views of the Arab Monetary Fund. Abstract While it is well documented that privatization leads to an improvement in the performance of state-owned enterprises (SOEs) following divestiture, it is argued that many of these studies do not consider the performance of control firms of similar pre-privatizati...

Recent research has documented empirical evidence of informed trading ahead of major corporate events such as earnings announcements, mergers and acquisitions (M&A) and corporate bankruptcies. Surprisingly, however, no such evidence exists ahead of corporate divestiture or spinoff (SP) announcements. This is noteworthy because the parent company’s stock usually experiences a significant price j...

Roni Michaely is Assistant Professor of Finance at the Johnson Graduate School of Management, Cornell University, Ithaca, NY. Wayne H. Shaw is Professor of Accounting at the University of Colorado at Boulder, Boulder, CO. This study analyzes how firms choose between a spin-off and an equity carve-out as a way to divest assets. Using a sample of 91 master limited partnerships that were issued to...

Introduction: Telephony has been the great “natural monopoly” of mid-century America. Early in the twentieth century, the policy of regulated monopoly for telephone was established; state and Federal regulation were based on this paradigm. By the late 1950s, there was some evidence that technology could be undermining the basis of this policy, and the Federal Communications Commission (FCC) beg...

Spurred by improvements in routing technology, the architecture of the Internet is evolving. Until recently, nearly all routing took place through parallel hierarchies, in which each core Internet service provider (ISP) at the top of its own hierarchy provided other core ISP’s with routes to its own customers and customers of non-core ISP’s in its hierarchy. Based partly on the ability and ince...

We show that the incentives a vertically integrated supplier may have to disadvantage or “sabotage” the activities of downstream rivals vary with both the type of sabotage and the nature of downstream competition. Cost-increasing sabotage is typically profitable under both Cournot and Bertrand competition. In contrast, demand-reducing sabotage is often profitable under Cournot competition, but ...

The Cumberland Plateau in Tennessee currently is experiencing wide-spread forest parcelization and changes in species composition as a result of changes in land use and ownership. These changes can be attributed partially to industrial forest land divestiture and the lingering effects of the 1998 – 2002 Southern Pine Beetle (SPB) epidemic. A random sample of 1600 NIPF landowners owning 40 or mo...