The Information Content of Pension Fund Asset Reversion
Description:
Prior studies on the impact of the termination of overfunded defined benefit pension plans on shareholders' wealth have produced conflicting findings. The first study on the stock market reaction to pension plan termination was conducted by Alderson and Chen (1986); this study claimed that shareholders realize significant positive abnormal returns around the termination announcement date. A more recent study, by Moore and Pruitt (1990), disclaimed the findings of Alderson and Chen. Reexaminatio…
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Date:
August 1992
Creator:
Shetty, Shekar T.
Partner:
UNT Libraries