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Do M&A lawsuits discipline managers' investment behavior?
Bourveau, Thomas; Brochet, François; Michael, Spira, Sven - 2014
governance mechanism by disciplining managers' investment decisions. In the two years following an M&A lawsuit (a lawsuit where … peer firms respond to the increased litigation risk by reducing abnormally high investment expenditures. Finally, the … industry-wide deterrence effect on firms' suboptimal investment behavior …
Persistent link: https://www.econbiz.de/10010501385
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Accounting quality and debt concentration : evidence from internal control weakness disclosures
Li, Ningzhong; Lou, Yun; Otto, Clemens A.; Moerman, … - 2014
We examine the relation between accounting quality and debt concentration in corporate capital structures (i.e., firms' tendency to rely predominantly on only a few types of debt). Motivated by theoretical and empirical research that supports a strong link between debt concentration and...
Persistent link: https://www.econbiz.de/10010502053