| Article ID: | iaor201522882 |
| Volume: | 10 |
| Issue: | 1 |
| Start Page Number: | 65 |
| End Page Number: | 75 |
| Publication Date: | Mar 1987 |
| Journal: | Journal of Financial Research |
| Authors: | Skantz Terrance R, Marchesini Roberto |
| Keywords: | investment |
This paper presents an analysis of the shareholder wealth effect of voluntary corporate liquidation, the extreme form of corporate divestiture classified as a ‘selloff.’ For a sample of 37 firms that liquidated during the 1970–1982 period, the liquidation announcement is associated with statistically and economically significant stock price increases.