Loss Heterogeneity, Behavior of Asset Restructuring and the Financial Value of the Companies

摘要

The article compared in depth and analyzed the different types of loss listed company's financial value-driven effects produced in different types of asset restructuring from a new perspective of loss heterogeneity. The study found, the financial value-driven effects produced in the asset restructuring were influenced not only by the approach, the frequency and the range of the reorganization but also the loss heterogeneity between the objects of the reorganization (ie., the loss listed companies). Namely, the different types of asset restructuring behavior will produce different effects of the financial value drivers on the same type of restructuring objects, and the same behavior of asset restructuring will produce different effects of the financial value drivers on different types of the restructuring objects.