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The Political Economy of Dominant Investors
Perotti, Enrico C.; Thadden, Ernst-Ludwig von - Tinbergen Instituut - 2004
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/10011255534
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The Political Economy of Dominant Investors
Perotti, Enrico C.; Thadden, Ernst-Ludwig von - Tinbergen Institute - 2004
We allow the preference of a political majority to determine both the corporate governance structure and the division of profits between human and financial capital. In a democratic society where financial wealth is concentrated, a political majority may prefer to restrain governance by...
Persistent link: https://www.econbiz.de/10005137317
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Acquisitions as a Real Options Bidding Game
Smit, Han T.J.; Berg, Ward A. van den; Maeseneire, Wouter De - Tinbergen Institute - 2004
expected target value, and uncertainty, determine value appropriation in acquisitions. …
Persistent link: https://www.econbiz.de/10005144572
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Acquisitions as a Real Options Bidding Game
Smit, Han T.J.; Berg, Ward A. van den; Maeseneire, Wouter De - Tinbergen Instituut - 2004
expected target value, and uncertainty, determine value appropriation in acquisitions. …
Persistent link: https://www.econbiz.de/10011256936
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Winning by Losing: Evidence on Overbidding in Mergers
Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - Tinbergen Institute - 2011
Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbid and destroy shareholder … an informative estimate of the causal effect of mergers in our sample. Existing measures of long-run abnormal returns …
Persistent link: https://www.econbiz.de/10009209848
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Winning by Losing: Evidence on Overbidding in Mergers
Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - Tinbergen Instituut - 2011
Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbidand destroy shareholder …
Persistent link: https://www.econbiz.de/10011257222
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Disciplining and Screening Top Executives
Martinez, Silvia Dominguez; Swank, Otto H.; Visser, Bauke - Tinbergen Instituut - 2006
failure of initiated strategies, reorganizations, mergers etc. We analyse the nature of (implicit) retention contracts boards …
Persistent link: https://www.econbiz.de/10011256153
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Disciplining and Screening Top Executives
Martinez, Silvia Dominguez; Swank, Otto H.; Visser, Bauke - Tinbergen Institute - 2006
failure of initiated strategies, reorganizations, mergers etc. We analyse the nature of (implicit) retention contracts boards …
Persistent link: https://www.econbiz.de/10005016271
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The Economic Value of Flexibility when there is Disagreement
Boot, Arnoud W.A.; Thakor, Anjan V. - Tinbergen Instituut - 2003
in a significant way. Theapplications we consider are: the entrepreneur’s choice of flexibility in the initial mix …
Persistent link: https://www.econbiz.de/10011249540
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Go Public or Stay Private: A Theory of Entrepreneurial Choice
Boot, Arnoud W.A.; Gopalan, Radhakrishnan; Thakor, Anjan V. - Tinbergen Instituut - 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/10011256028