Similar Search Results

The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

Acquisitions as a real options bidding game

Smit, Han T. J.; Berg, Ward A. van den; De Maeseneire, … - 2005

expected target value, and uncertainty, determine value appropriation in acquisitions. …

Persistent link: https://www.econbiz.de/10011337396

Winning by losing : evidence on overbidding in mergers

Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - 2011

Persistent link: https://www.econbiz.de/10010191090

Disciplining and screening top executives

Dominguez-Martinez, Silvia; Swank, Otto H.; Visser, Bauke - 2006

failure of initiated strategies, reorganizations, mergers etc. We analyse the nature of (implicit) retention contracts boards …

Persistent link: https://www.econbiz.de/10011349199

The economic value of flexibility when there is disagreement

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

in a significant way. Theapplications we consider are: the entrepreneur’s choice of flexibility in the initial mix …

Persistent link: https://www.econbiz.de/10011332819

Disagreement and flexibility : a theory of optimal security issuance and capital structure

Boot, Arnoud W. A.; Thakor, Anjan V. - 2002

In this paper we introduce flexibility as an economic concept and apply it to the firm’ssecurity issuance decision and capital structure choice. Flexibility is the ability to makedecisions that one thinks are best even when others disagree. The firm’s management valuesflexibility because it...

Persistent link: https://www.econbiz.de/10011332820

Go public or stay private : a theory of entrepreneurial choice

Boot, Arnoud W. A.; Gopalan, Radhakrishnan; Thakor, Anjan V. - 2003

In this paper we analyze an entrepreneur /manager's choice between private and public ownership in a setting in which …

Persistent link: https://www.econbiz.de/10011334339

Rhineland exit?

Bovenberg, Ary Lans; Teulings, Coen N. - 2007

We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

Persistent link: https://www.econbiz.de/10011373820

Corporate governance and leverage : evidence from a natural experiment

Arping, Stefan; Sautner, Zacharias - 2009

We argue that the recent corporate governance reform in the Netherlands provides a natural experiment to explore the impact of changes in corporate governance on financing policy. We find that, relative to a control sample of comparable firms outside the Netherlands, Dutch firms significantly...

Persistent link: https://www.econbiz.de/10011380020

Consolidation waves

Berg, Ward A. van den; Smit, Han T. J. - 2007

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …

Persistent link: https://www.econbiz.de/10011372521

1
2
3
4
5
6
7
8
9
10
Next
Last