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Eli Bartov, Frederick Lindahl, W. Ricks (1999)
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We also partition the sample based on ROE in year t − 1 and the results of these additional tests, not reported, are quantitatively and qualitatively similar to those discussed above
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American Institute of Certified Public Accountants, Accounting Trends and Techniques
This study provides new evidence on the long-term performance effects of operational restructurings. While managers claim that restructurings increase the efficiency and profitability of companies, prior studies using accounting data have reached mixed conclusions regarding the post-restructuring operational effectiveness of these events. Using metrics that provide control for firm and industry performance in the absence of restructuring, and examining a time horizon extending five years subsequent to the restructuring, our results are not consistent with an improvement in operating performance resulting from restructuring after controlling for ex ante expectations of firm and industry performance.
Review of Quantitative Finance and Accounting – Springer Journals
Published: Jan 1, 2005
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