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We study the restructuring process of small and medium-sized firms in financial distress. We have a unique dataset with firms in the Netherlands that are guided in their restructuring effort by banks. Part of our dataset consists of firms that successfully restructure their operations and...
Persistent link: https://www.econbiz.de/10010731431
to measure the costs and recovery rates in the Dutch liquidation-based bankruptcy system, and to investigate the …We present evidence on the efficiency of the resolution of financial distress in bankruptcy in The Netherlands. We … firms before and in the bankruptcy procedures, the details of the bankruptcy process and the outcomes. This data allows us …
Persistent link: https://www.econbiz.de/10010731471
The present paper examines firm size effects on the decision of venture capital firms to participate in a venture capital investment syndication network. The authors submit that firm size effects in venture capital syndication are dependent on resource acquisition motives and transaction cost...
Persistent link: https://www.econbiz.de/10011242170
Large institutional investors allocate their funds over a number of classes (e.g. equity, fixed income and real estate), various geographical regions and different industries. In practice, these allocation decisions are usually made in a hierarchical (top-down), consecutive way. At the higher...
Persistent link: https://www.econbiz.de/10010731168
We find that changes in oil prices strongly predict future stock market returns in many countries in the world. In our thirty year sample of monthly data for developed stock markets, we find statistically significant predictability in 12 out of the 18 countries and in a world market index. For...
Persistent link: https://www.econbiz.de/10010837598
__Abstract__ Address delivered in shortened form at the occasion of accepting the appointment as Extraordinary Professor of Financial markets on behalf of Vereniging Trustfonds EUR at the Rotterdam School of Management, on Friday March 7, 2014. "In this address, I consider “The Social Value of...
Persistent link: https://www.econbiz.de/10011149195
Abe de Jong (1970) is Professor in Corporate Finance and Corporate Governance at RSM Erasmus University. He obtained a PhD in finance at Tilburg University (1999). His research and teaching interests are in the area of empirical corporate finance and include capital structure choice, dividend...
Persistent link: https://www.econbiz.de/10010730461
News plays a crucial role in determining prices in financial markets. In an efficient market, current prices fully and correctly reflect all available information, such that only truly new information leads to price adjustment. This lecture shows that using high-frequency data makes it possible...
Persistent link: https://www.econbiz.de/10010730466
Private equity has become an increasingly important part of our economy. Around the world the companies owned by private equity investors account for a substantial percentage of Gross Domestic Product (GDP) and private sector employment. These investors have recently been under fire in the media...
Persistent link: https://www.econbiz.de/10010730478
We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a depreciation...
Persistent link: https://www.econbiz.de/10010730859