{"id":"https://openalex.org/W1994591896","doi":"https://doi.org/10.1002/smj.4250090108","title":"Divestment: Motives and gains","display_name":"Divestment: Motives and gains","publication_year":1988,"publication_date":"1988-01-01","ids":{"openalex":"https://openalex.org/W1994591896","doi":"https://doi.org/10.1002/smj.4250090108","mag":"1994591896"},"language":"en","primary_location":{"id":"doi:10.1002/smj.4250090108","doi":"https://doi.org/10.1002/smj.4250090108","is_oa":false,"landing_page_url":"https://doi.org/10.1002/smj.4250090108","pdf_url":null,"source":{"id":"https://openalex.org/S102949365","display_name":"Strategic Management Journal","issn_l":"0143-2095","issn":["0143-2095","1097-0266"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Strategic Management Journal","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5109267800","display_name":"Cynthia A. Montgomery","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Cynthia A. Montgomery","raw_affiliation_strings":["J. L. Kellogg Graduate School of Management, Northwestern University, Evanston, Illinois, U.S.A"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"J. L. Kellogg Graduate School of Management, Northwestern University, Evanston, Illinois, U.S.A","institution_ids":["https://openalex.org/I111979921"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5108811141","display_name":"Ann R. Thomas","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I27837315","display_name":"University of Michigan","ror":"https://ror.org/00jmfr291","country_code":"US","type":"education","lineage":["https://openalex.org/I27837315"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ann R. Thomas","raw_affiliation_strings":["Graduate School of Business Administration, University of Michigan, Ann Arbor, Michigan, U.S.A"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Graduate School of Business Administration, University of Michigan, Ann Arbor, Michigan, U.S.A","institution_ids":["https://openalex.org/I27837315"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":4250,"currency":"USD","value_usd":4250},"apc_paid":null,"fwci":4.9198,"has_fulltext":false,"cited_by_count":140,"citation_normalized_percentile":{"value":0.95220173,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":94,"max":99},"biblio":{"volume":"9","issue":"1","first_page":"93","last_page":"97"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9937000274658203,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.0015999999595806003,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.00139999995008111,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/divestment","display_name":"divestiture","score":0.9229999780654907},{"id":"https://openalex.org/keywords/short-term-performance","display_name":"short-term performance","score":0.8379999995231628},{"id":"https://openalex.org/keywords/corporate-divestiture","display_name":"corporate divestiture","score":0.5730000138282776},{"id":"https://openalex.org/keywords/stock-price-reaction","display_name":"stock price reaction","score":0.44600000977516174}],"concepts":[{"id":"https://openalex.org/C181190989","wikidata":"https://www.wikidata.org/wiki/Q1200733","display_name":"Divestment","level":2,"score":0.9067929983139038},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5174594521522522},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.3973269462585449},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37556108832359314},{"id":"https://openalex.org/C190253527","wikidata":"https://www.wikidata.org/wiki/Q295354","display_name":"Law and economics","level":1,"score":0.32642659544944763},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.12142026424407959}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1002/smj.4250090108","doi":"https://doi.org/10.1002/smj.4250090108","is_oa":false,"landing_page_url":"https://doi.org/10.1002/smj.4250090108","pdf_url":null,"source":{"id":"https://openalex.org/S102949365","display_name":"Strategic Management Journal","issn_l":"0143-2095","issn":["0143-2095","1097-0266"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Strategic Management Journal","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":5,"referenced_works":["https://openalex.org/W590427952","https://openalex.org/W1964444008","https://openalex.org/W1995490325","https://openalex.org/W1998543507","https://openalex.org/W2081405362"],"related_works":["https://openalex.org/W7019646103","https://openalex.org/W1984567128","https://openalex.org/W1998543507","https://openalex.org/W7051784101","https://openalex.org/W2735940867","https://openalex.org/W4289767572","https://openalex.org/W4212910523","https://openalex.org/W4238137561","https://openalex.org/W4239008647","https://openalex.org/W3123475641"],"abstract_inverted_index":{"Abstract":[0],"A":[1],"follow\u2010up":[2],"to":[3,20,23],"earlier":[4],"study,":[5],"this":[6],"research":[7],"demonstrates":[8],"that":[9],"the":[10],"stock":[11],"market's":[12],"positive":[13],"revaluation":[14],"of":[15],"divesting":[16],"firms":[17],"is":[18],"unlikely":[19],"be":[21],"due":[22],"changes":[24],"in":[25],"short\u2010term":[26],"performance.":[27]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":8},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":8},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":6},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":9},{"year":2012,"cited_by_count":6}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
