The Impact of Corporate Real Estate Unit Formation on the Parent Firm's Value

Ronald C. Rutherford and Hugh O. Nourse
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Ronald C. Rutherford: Department of Finance & Economics Georgia Southern College Statesboro, Georgia 30460, http://www2.gasou.edu/finecon/index.html
Hugh O. Nourse: College of Business Administration University of Georgia Athens, Georgia 30602, http://www.terry.uga.edu/

Journal of Real Estate Research, 1988, vol. 3, issue 3, 73-84

Abstract: This research investigates the valuation impact of the formation of a Corporate Real Estate Unit (CREU) on the stock price of the parent organization. Using standard event study methodology, the empirical tests show that the formation of a CREU, in general, is associated with positive gains to shareholders. The largest gains are associated with the publicly traded subsidiaries. The next largest gains are associated with the Master Limited Partnerships and the wholly owned subsidiaries.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (8)

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