carve

The hypothesis also predicts that carve-outs could result in operating improvements for both the parent and the carved out subsidiary.

We track the parent companies' ownership stake of the carved out subsidiary for the four years following the carve-out and measure operating performance of the parent and subsidiary companies' assets for six years following the carve-out.

Mental Health Drugs Requiring Prior Carve-Out/ Authorization Formulary Limits on All Drugs States by State Exclusions Prescriptions Carve-Out (a) Arizona [check] California [check] [check] Colorado Florida [check] [check] [check] Hawaii [check] [check] [check] [check] Iowa [check] [check] [check] (a) Kentucky [check] [check] [check] Massachusetts [check] [check] [check] Michigan [check] [check] [check] [check] Nebraska [check] [check] [check] [check] (a) Pennsylvania [check] [check] [check] Tennessee Texas Utah [check] [check] [check] [check] (a) Washington [check] [check] Wisconsin (a) All prescription drugs are carved out and covered by a specialty firm.

Others carved out units but failed to give them the strong management teams they needed; still others simply failed to take advantage of the new structure, applying the same old compensation and management practices as before.

An equity carve-out is defined as an event in which the parent sells equity claims in a subsidiary through a public cash offering, but retains a majority holding in the carved out subsidiary for financial reporting, tax, or control considerations.