TY - JOUR T1 - Divesting to Create Shareholder Value: <em>Pension Plans Through a Divestment Lens</em> JF - The Journal of Investing SP - 81 LP - 84 DO - 10.3905/joi.2018.27.supplement.081 VL - 27 IS - supplement AU - Rohit Mathur AU - Glenn O’Brien Y1 - 2018/10/31 UR - https://pm-research.com/content/27/supplement/81.abstract N2 - Evidence demonstrates that capital markets reward companies that divest non-core operations and unprofitable segments, particularly if the transaction improves the performance of the company’s remaining operations. Much like an unprofitable business segment, defined benefit pension plans divert resources from the core business, constrain cash flows, and limit performance. Since decisions to divest and decisions to de-risk a pension obligation are driven by the same factors, pension risk transfer should be looked at through a divestment lens.TOPICS: Pension funds, risk management, security analysis and valuation ER -