Abstract
This paper examines the effect of ownership structure on the market assessment of asset sales. Three types of ownership structures are identified: large block outside, inside, and widely held. Empirical results indicate that firms with large block outside shareholders experience significantly positive announcement effects for both buying and selling firm samples. These are significantly greater than those for the inside shareholder and large widely held firms. This paper also examines whether ownership structure of the firm being transacted with and disclosure of the price of the transaction has an effect on the market assessment of the deal.lease enter abstract text here.
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