Excess Asset Reversions and Shareholder Wealth: A Comment

Norman H Moore and Stephen Pruitt ()

Journal of Finance, 1990, vol. 45, issue 5, 1709-14

Abstract: This study reexamines the earlier finding of Michael J. Alderson and K. C. Chen (1986) that financial markets do not consider excess pension assets in determining share prices and that significant increases in shareholder wealth occur when an overfunded pension plan is terminated. The results document that specific event-time contamination (corporate restructuring announcements) provides the driving force for all the earlier findings. Copyright 1990 by American Finance Association.

Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://links.jstor.org/sici?sici=0022-1082%2819901 ... O%3B2-0&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jfinan:v:45:y:1990:i:5:p:1709-14

Ordering information: This journal article can be ordered from
http://www.afajof.org/membership/join.asp

Access Statistics for this article

More articles in Journal of Finance from American Finance Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().