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The Euro Introduction and Non-Euro Currencies
van Dijk, Dick; Munandar, Haris; Hafner, Christian M. - 2005
, Norwegian krone, Swedish krona, Swiss franc, and euro exchange rates (against the US dollar) during the period 1994-2003. Using … formal decision to proceed with the euro was made in December 1996 and at the time of the actual introduction of the euro in …
Persistent link: https://www.econbiz.de/10010325483
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Cross-Border Mergers and Acquisitions: The Role of Private Equity Firms
Humphery-Jenner, Mark; Sautner, Zacharias; Suchard, Jo-Ann - 2012
We study the role of private equity firms in cross-border mergers and acquisitions. We find that private equity-owned firms are more likely to become targets in crossborderM&A transactions. This effect is particularly strong in transactions where the target or its shareholders actively reach out...
Persistent link: https://www.econbiz.de/10010326420
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A Non-Parametric and Entropy Based Analysis of the Relationship between the VIX and S&P 500
Allen, David E.; McAleer, Michael; Powell, Robert; … - 2013
This paper features an analysis of the relationship between the S&P 500 Index and the VIX using daily data obtained from both the CBOE website and SIRCA (The Securities Industry Research Centre of the Asia Pacific). We explore the relationship between the S&P 500 daily continuously compounded...
Persistent link: https://www.econbiz.de/10010326508
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Market Liquidity, Investor Participation and Managerial Autonomy: Why do Firms go Private?
Boot, Arnoud W.A.; Gopaian, Radhakrishnan; Thakor, Anjan V. - 2006
We analyze a publicly-traded firm's decision to stay public or go private when managerial autonomy from shareholder intervention affects the supply of productive inputs by management. We show that both the advantage and the disadvantage of public ownership relative to private ownership lie in...
Persistent link: https://www.econbiz.de/10010325255
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Strategic versus Financial Investors: The Role of Strategic Objectives in Financial Contracting
Arping, Stefan; Falconieri, Sonia - 2009
Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high...
Persistent link: https://www.econbiz.de/10010325753
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Badge of Honor or Scarlet Letter? Unpacking Investors' Judgment of Entrepreneurs' Past Failure
Zunino, Diego; van Praag, Mirjam (C.M.); Dushnitsky, Gary - 2017
Research shows that most ventures fail, yet it has devoted limited attention to the consequences of entrepreneurs’ past failure for investors’ decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both. Therefore, failure conveys ambiguous information...
Persistent link: https://www.econbiz.de/10011819478
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A Multi-Criteria Portfolio Analysis of Hedge Fund Strategies
Allen, David E.; McAleer, Michael; Singh, Abhay K. - 2017
This paper features a tri-criteria analysis of Eurekahedge fund data strategy index data. We use nine Eurekahedge equally weighted main strategy indices for the portfolio analysis. The tri-criteria analysis features three objectives: return, risk and dispersion of risk objectives in a...
Persistent link: https://www.econbiz.de/10011662511
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Deterministic versus Random Utility: Implied Patterns of Vertical Product Differentiation in a Multi-Product Monopoly
Behrens, Christiaan; Lijesen, Mark; Pels, Eric; … - 2012
In this article we study patterns of vertical product differentiation in a multi-product monopoly using a random utility model. Prior research shows that applying such a model in a multi-product setting implies symmetric patterns of product differentiation in which all product variants of a...
Persistent link: https://www.econbiz.de/10010326348
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The EURO, Prudent Coherence?
Arnold, Ivo J.M.; de Vries, Casper G. - 1998
EURO's will be more stable than thecurrent demand for national currencies. In policy circles this seeminglymoderating …
Persistent link: https://www.econbiz.de/10010324454
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The Importance of Accounting for Time Trends when Estimating the Euro Effect on Trade
Bun, Maurice J.G.; Klaassen, Franc J.G.M. - 2003
To study the effect of the euro on international goods trade one typically estimates a panel model for the level of … euro is only present at the end of the sample, this may have led to an upward bias in existing euro estimates to help … have different effects across country-pairs. Data on industrialized countries over 1967-2002 show the existing euro effects …
Persistent link: https://www.econbiz.de/10010324985