Similar Search Results

Employee Stock Option-Implied Risk Attitude Under Rank-Dependent Expected Utility

Bahaji, Hamza; Casta, Jean-François - Université Paris-Dauphine (Paris IX) - 2015

Probability weighting is one of the cornerstones of decision-making theories accommodating gambling preferences. This paper examines its relevance to explaining employee stock option exercise behavior. We characterized the optimal exercise policy for a representative employee with Rank-Dependent...

Persistent link: https://www.econbiz.de/10011124179

Dynamic Adverse Selection and Debt

Faure-Grimaud, Antoine; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2001

Persistent link: https://www.econbiz.de/10010708865

Synergy Modelling and Financial Valuation : the contribution of Fuzzy Integrals

Bry, Xavier; Casta, Jean-François - Université Paris-Dauphine (Paris IX) - 2003

Financial valuation methods use additive aggregation operators. But a patrimony should be regarded as an organized set, and additivity makes it impossible for these aggregation operators to formalize such phenomena as synergy or mutual inhibition between the patrimony’s components. This paper...

Persistent link: https://www.econbiz.de/10010861493

Cognitive and behavioral bias of CEOs in the merger and acquisition process: an overview of existing theory

Barabel, Michel - Université Paris-Dauphine (Paris IX) - 2001

Persistent link: https://www.econbiz.de/10010861636

Merger paradox : the strategic role of minority in integration process

Meier, Olivier; Barabel, Michel - Université Paris-Dauphine (Paris IX) - 2006

This article examines the link between the integration processes at work in acquired companies and the results of acquisition. New questions are raised concerning the underlying mechanisms of the integration process, in which it is essential to identify those factors that lend value to the...

Persistent link: https://www.econbiz.de/10010905268

Risque d'estimation, coût du capital et communication des tests de dépréciation

Paugam, Luc; Ramond, Olivier; Husson, Bruno; Philippe, Henri - Université Paris-Dauphine (Paris IX) - 2013

The cost of equity capital is traditionally considered as an increasing function of the estimation risk – the risk of error regarding the distribution of a firm’s future cash flows (FCF). Under international GAAPs, IAS 36 “Impairment of assets” -based information disclosure conveys...

Persistent link: https://www.econbiz.de/10011246078

Ownership, control and market liquidity

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX)

We examine how ownership concentration and the separation of ownership and control affect market liquidity in France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. Different methods of concentrating control affect liquidity in different ways. Pyramid...

Persistent link: https://www.econbiz.de/10010706821

Hold-Up, Stakeholders and Takeover Threats

Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2005

We analyze the impact of takeover threats on long term relationships between the target owners and other stakeholders …’ incentive to invest. The threat of a takeover that would transfer value from the stakeholders reduces their ex ante investment …. However, the stakeholders may appropriate ex post some value created by a takeover. This can prevent some value …

Persistent link: https://www.econbiz.de/10010707320

La répartition des droits de vote, leur exercice et l’efficacité économique

Hamon, Jacques - Université Paris-Dauphine (Paris IX) - 2001

This paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems in Europe. One share-one vote encourages the selection of an efficient management team. Families are the...

Persistent link: https://www.econbiz.de/10010707890

Privatization and governance regulation in frontier emerging markets: The case of Romania

Pop, Diana; Pop, Adrian; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2010

takeover bids; and (iii) the stock liquidity is low. …

Persistent link: https://www.econbiz.de/10010708206