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Blockholder exit threats in the presence of private benefits of control
Hope, Ole-Kristian; Wu, Han; Zhao, Wuyang - 2016
Exit theory predicts a governance role of outside blockholders' exit threats; but this role could be ineffective if managers' potential private benefits exceed their loss in stock-price declines caused by outside blockholders' exit. We test this prediction using the Split-Share Structure Reform...
Persistent link: https://www.econbiz.de/10011646329
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The Political Economy of Dominant Investors
Perotti, Enrico C.; von Thadden, Ernst-Ludwig - 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/10010325240
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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
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Corporate acquisitions and bank relationships
Volosovych, Vadym; Poelhekke, Steven; Vlahu, Razvan - 2021
dynamics of bank relationships after corporate acquisitions and the effects of changing banks on firm performance. Foreign …
Persistent link: https://www.econbiz.de/10012797240
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Corporate acquisitions and bank relationships
Volosovych, Vadym; Poelhekke, Steven; Vlahu, Razvan - 2021
dynamics of bank relationships after corporate acquisitions and the effects of changing banks on firm performance. Foreign …
Persistent link: https://www.econbiz.de/10012621574
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Financial market integration and the value of global diversification: evidence for US acquirers in cross-border mergers and acquisitions
Francis, Bill B.; Hasan, Iftekhar; Sun, Xian - 2006
value of global diversification.Based on a sample of 1,491 completed cross-border mergers and acquisitions (M&As) conducted …
Persistent link: https://www.econbiz.de/10012147980
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A Dynamic Analysis of Growth via Acquisition
Margsiri, Worawat; Melloy, Antonio S.; Ruckesz, Martin E. - Center for Economic Institutions, Institute of Economic … - 2008
negotiations break down. Thus, internal growth opportunities speed up acquisitions when integration costs are significant or … requiring learning about these variables. The model also predicts that buyer-initiated acquisitions result in more pronounced … negative acquirer announcement returns than seller-initiated acquisitions. …
Persistent link: https://www.econbiz.de/10005045149
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Financial market integration and the value of global diversification: evidence from US acquirers in cross-border mergers and acquisitions
Francis, Bill B; Hasan, Iftekhar; Sun, Xian - Suomen Pankki - 2006
value of global diversification. Based on a sample of 1,491 completed cross-border mergers and acquisitions (M&As) conducted …
Persistent link: https://www.econbiz.de/10005419680
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Sentiment and style : evidence from Republican managers
Karadas, Serkan; Papakroni, Jorida; Schlosky, Minh Tam - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-17
This study examines the relationship between corporate managers' political ideology and corporate leverage policies conditional on investor sentiment. Based on a minimum of 21,884 observations over the 1992-2008 period, the authors show that Republican managers significantly reduce leverage...
Persistent link: https://www.econbiz.de/10013252787
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Political Participation and Entrepreneurial Initial Public Offerings in China
Feng, Xunan; Johansson, Anders C.; Zhang, Tianyu - Stockholm China Economic Research Institute, … - 2011
This paper examines the value of political participation by private entrepreneurs in China. Using a unique sample of all initial public offerings by entrepreneurial firms during 1994-2007 and political participation by the controlling entrepreneurs, we test the hypothesis that firms with...
Persistent link: https://www.econbiz.de/10008861889