The performance consequences of operational restructurings

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

Research output: Contribution to journalArticlepeer-review

17 Scopus citations


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
Issue number4
StatePublished - Dec 2005


  • Operating performance
  • Operational restructurings
  • Restructuring

ASJC Scopus subject areas

  • Accounting
  • General Business, Management and Accounting
  • Finance


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