Policy uncertainty and aggregate industry divestitures
| dc.contributor.advisor | Mishra, Dev | |
| dc.contributor.advisor | Mamun , Abdullah | |
| dc.contributor.committeeMember | Maung , Min | |
| dc.contributor.committeeMember | Wilson, Craig | |
| dc.contributor.committeeMember | Khan, Saqib | |
| dc.creator | Enamul Huda, Hussain Ahmed | |
| dc.date.accessioned | 2020-09-28T22:10:05Z | |
| dc.date.available | 2023-09-28T06:05:06Z | |
| dc.date.created | 2020-09 | |
| dc.date.issued | 2020-09-28 | |
| dc.date.submitted | September 2020 | |
| dc.date.updated | 2020-09-28T22:10:05Z | |
| dc.description.abstract | I examine whether policy uncertainty affects the extent of industry average divestitures using a U.S. sample of divestitures and find that policy uncertainty negatively affects divestiture deal value and deal frequency. I interpret this finding as evidence that during policy uncertainty divesting-firms are less likely to receive the expected price for their ‘to be divested’ assets, therefore, the managers of target firms that have the flexibility to wait (or option to delay divesting) may prefer delaying divesting until the policy-uncertainty is alleviated. There exists no significant cross-sectional variation (at industry level) with respect to this negative effect. | |
| dc.format.mimetype | application/pdf | |
| dc.identifier.uri | http://hdl.handle.net/10388/13071 | |
| dc.subject | Policy uncertainty | |
| dc.subject | Divestiture | |
| dc.subject | Real option | |
| dc.subject | BBD index | |
| dc.title | Policy uncertainty and aggregate industry divestitures | |
| dc.type | Thesis | |
| dc.type.material | text | |
| local.embargo.terms | 2023-09-28 | |
| thesis.degree.department | Edwards School of Business | |
| thesis.degree.discipline | Finance | |
| thesis.degree.grantor | University of Saskatchewan | |
| thesis.degree.level | Masters | |
| thesis.degree.name | Master of Science (M.Sc.) |