The performance consequences of operational restructurings

Lori Holder-Webb, Thomas J. Lopez, Philip Regier

Research output: Contribution to journalArticle

10 Citations (Scopus)

Abstract

This study provides new evidence on the long-term performance effects of operational restructurings. While managers claim that restructurings increase the efficiency and profitability of companies, prior studies using accounting data have reached mixed conclusions regarding the post-restructuring operational effectiveness of these events. Using metrics that provide control for firm and industry performance in the absence of restructuring, and examining a time horizon extending five years subsequent to the restructuring, our results are not consistent with an improvement in operating performance resulting from restructuring after controlling for ex ante expectations of firm and industry performance.

Original languageEnglish (US)
Pages (from-to)319-339
Number of pages21
JournalReview of Quantitative Finance and Accounting
Volume25
Issue number4
DOIs
StatePublished - Dec 2005

Fingerprint

Industry performance
Firm performance
Operating performance
Managers
Time horizon
Profitability
Long-term performance
Operational effectiveness
Accounting data

Keywords

  • Operating performance
  • Operational restructurings
  • Restructuring

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics, Econometrics and Finance(all)

Cite this

The performance consequences of operational restructurings. / Holder-Webb, Lori; Lopez, Thomas J.; Regier, Philip.

In: Review of Quantitative Finance and Accounting, Vol. 25, No. 4, 12.2005, p. 319-339.

Research output: Contribution to journalArticle

Holder-Webb, Lori ; Lopez, Thomas J. ; Regier, Philip. / The performance consequences of operational restructurings. In: Review of Quantitative Finance and Accounting. 2005 ; Vol. 25, No. 4. pp. 319-339.
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