Stock Market Response to Voluntary Liquidations and Reorganizations of Real Estate Corporations

Fayez A. Elayan and Brian A. Maris

Real Estate Economics, 1991, vol. 19, issue 1, 92-101

Abstract: Announcements of voluntary liquidation or reorganization by real estate corporations are analyzed. There is a positive stock price response to announcement of liquidation, and a negative stock price response to announcements of reorganization. Results were the same before and after the 1978 Bankruptcy Reform Act took affect.

Date: 1991
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