Research Summary
Research Summary
Valuation of Business Reorganizations
Description
Business reorganization transactions, such as mergers, acquisitions and spin-offs, are often initiated based on the premise of value creation for shareholders. However, is this premise true, especially in the recent data? Due to the growing share of intangibles in corporate assets -- there is much uncertainty in the valuations of more recent reorganization transactions. Motivated by this uncertainty, my work studies the valuation implications of these transactions, and seeks to examine the drivers of value in these transactions.