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Vertical Integration and Fuel Diversity in Electricity Generation – a theoretical study in imperfect competition
Fristrup, Peter; Klinge Jacobsen, Henrik - Volkswirtschaftliche Fakultät, … - 2005
This paper contains an analysis of stylised natural gas and electricity supply sectors. Power plants operate either on natural gas or on a competing fuel – e.g. oil. The competing fuel is assumed to be traded at world market price whereas natural gas is sold by a national monopoly. The paper...
Persistent link: https://www.econbiz.de/10011258577
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The causal effect of venture capital backing on the underpricing of Italian IPOs
Pennacchio, Luca - Volkswirtschaftliche Fakultät, … - 2013
This paper analyses the role of venture capitalists in Italian Initial Public Offerings (IPOs). Between 1999 and 2012 … venture capital backed IPOs are on average less underpriced than non-venture backed IPOs. By using both a matching and a …
Persistent link: https://www.econbiz.de/10011108560
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The aftermarket pricing performance of initial public offers: Insights from India
Reddy, K. Srinivasa - Volkswirtschaftliche Fakultät, … - 2011
Purpose: The purpose of this paper is to examine the underpricing of initial public offers (IPOs), which were announced … performance of IPOs during the recent global financial crisis. Methodology: This paper studies the underpricing of 133 IPOs in … post-listing IPOs assure positive returns in short-run, but they tend to plunge and become negative in long-run. In …
Persistent link: https://www.econbiz.de/10011210490
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Network embeddedness, specialization choices and performance in investment banking industry
Farina, Vincenzo - Volkswirtschaftliche Fakultät, … - 2008
The idea that network structure and embeddedness affect firms’ competitive behavior and performance is not new both in network literature and in strategic management literature. This study recognizes that the possibility to fully exploit network opportunities is depending on firm...
Persistent link: https://www.econbiz.de/10005621865
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Orphan versus non-orphan IPOs: the difference analyst coverage makes
Boissin, Romain - Volkswirtschaftliche Fakultät, … - 2012
period from 1991 to 2010. In US IPOs, during the one- to five-year horizon, we find a significant long-run abnormal … performance by orphans (IPOs without analyst coverage) compared to non-orphans (IPOs with analyst coverage.Further analysis …
Persistent link: https://www.econbiz.de/10011109351
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Orphan versus non-orphan IPOs: the difference analyst coverage makes
Boissin, Romain - Volkswirtschaftliche Fakultät, … - 2012
This paper examines the long-run performance of US IPOs carried out between 1991 and 2010. By using various … methodologies, we find that IPOs in our sample performed abnormally relative to comparison portfolios over the 1991-2010 horizon …. This abnormal long-run performance is much severe for orphan IPOs (without financial recommendation) than non-orphan IPOs …
Persistent link: https://www.econbiz.de/10011112860
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Giants at the Gate: On the Cross-section of Private Equity Investment Returns
Lopez-de-Silanes, Florencio; Phalippou, Ludovic; … - Volkswirtschaftliche Fakultät, … - 2010
We examine the determinants of private equity returns using a newly constructed database of 7,500 investments worldwide over forty years. The median investment IRR (PME) is 21% (1.3), gross of fees. One in ten investments goes bankrupt, whereas one in four has an IRR above 50%. Only one in eight...
Persistent link: https://www.econbiz.de/10008833275
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Strategies on initial public offering of company equity at stock exchanges in imperfect highly volatile global capital markets with induced nonlinearities
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - Volkswirtschaftliche Fakultät, … - 2014
information absorption capacity by the investors on the IPOs impacts the investor’s investment decisions and serves as a pre …
Persistent link: https://www.econbiz.de/10011258000
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Dynamics and equilibria under incremental horizontal differentiation on the Salop circle
Vermeulen, Ben; La Poutré, Han; de Kok, Ton - Volkswirtschaftliche Fakultät, … - 2012
We study product differentiation on a Salop circle when firms relocate incrementally due to bounded rationality. We prove that, under common assumptions on demand, firms relocate only when two or more firms target the same niche. In any other case, there is no incentive for any firm to relocate...
Persistent link: https://www.econbiz.de/10011259983
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Schemat arbitrażowy Nasha, a podział zysków w bilateralnym monopolu kopalni węgla brunatnego i elektrowni. Cześć druga – zastosowania w negocjacjach strategicznych i taktycznych...
Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006
The application of Nash bargaining solution to profit division in negotiation between opencast lignite mine and power plant has been discussed. Different proposals of status quo point usage and ways of its determination for profit sharing both in strategic and tactical/operational negotiation...
Persistent link: https://www.econbiz.de/10005260247