Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/48845 
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dc.contributor.authorJackowicz, Krzysztofen
dc.contributor.authorKowalewski, Oskaren
dc.date.accessioned2011-08-18-
dc.date.accessioned2011-08-22T15:28:26Z-
dc.date.available2011-08-22T15:28:26Z-
dc.date.issued2011-
dc.identifier.citation|aContemporary Economics|c1897-9254|v5|h2|nVizja Press & IT|lWarsaw|y2011|p30-41en
dc.identifier.pidoi:10.5709/ce.1897-9254.10en
dc.identifier.urihttp://hdl.handle.net/10419/48845-
dc.description.abstractDivestment constitutes an important method of corporate restructuring. Despite this fact, the banking literature on divestment is very limited. In this text, we try to remediate partially to the shortcomings of the existing literature by examining empirically the role of external factors. Using a large sample of 313 transactions, we have established that parent companies originate from countries with relatively high accumulated wealth, slow GDP growth, stable macroeconomic situation and dominant bank intermediation in financial system. The acquirers in turn come from poorer countries with faster economic growth and relatively more market-oriented financial systems. Those results broadly conform with the predictions of three hypotheses formulated in the text, namely the weak performance hypothesis, the corporate governance hypothesis and the rebalancing hypothesis.en
dc.language.isoengen
dc.publisher|aVizja Press & IT |cWarsawen
dc.subject.jelG21en
dc.subject.jelG34en
dc.subject.ddc330en
dc.subject.keyworddivestmenten
dc.subject.keywordbankingen
dc.subject.keywordexternal factorsen
dc.titleDivestments in banking: Preliminary evidence on the role of external factors-
dc.typeArticleen
dc.identifier.ppn666351848en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleContemporary Economicsen
econstor.citation.issn1897-9254en
econstor.citation.volume5en
econstor.citation.issue2en
econstor.citation.publisherVizja Press & ITen
econstor.citation.publisherplaceWarsawen
econstor.citation.year2011en
econstor.citation.startpage30en
econstor.citation.endpage41en

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