Similar Search Results

Why have M&A contracts grown? : evidence from twenty years of deals

Coates, John C. - 2016 - This draft: October 28, 2016

Over 20 years, M&A contracts have more than doubled in size – from 35 to 88 single-spaced pages in this paper's font. They have also grown significantly in linguistic complexity – from post-graduate “grade 20” to post-doctoral “grade 30”. A substantial portion (lower bound ~20%) of...

Persistent link: https://www.econbiz.de/10011582006

Real Earnings Management and Governance Attributes in the Context of IPO Failure

Amna, Chalwati - 2014

This study examines the association between real earnings management, governance attributes, and IPO failure risk. Using a sample of 4174 IPOs firms that went public over the period of 1998-2011, we find evidence that real earnings management and governance attributes are associated with IPO...

Persistent link: https://www.econbiz.de/10013060764

Private or Public Equity? The Evolving Entrepreneurial Finance Landscape

Ewens, Michael; Farre-Mensa, Joan - 2021

The U.S. entrepreneurial finance market has changed dramatically over the last two decades. Entrepreneurs raising their first round of venture capital retain 30% more equity in their firm and are more likely to control their board of directors. Late-stage startups are raising larger amounts of...

Persistent link: https://www.econbiz.de/10013321792

Venture Capital Financing, Patenting, and Long-Run Performance of Private Acquisitions

Fabrizi, Simona - 2010

Our model reconciles seemingly contradictory empirical evidence on venture capital activity. Despite the venture capital-backed companies' superior long-run performance, stock markets react more negatively to their acquisitions than to other private acquisitions. Moreover, venture capital...

Persistent link: https://www.econbiz.de/10013141931

Information Asymmetries, Agency Costs and Venture Capital Exit Outcomes

Cumming, Douglas J.; Johan, Sofia - 2008

This paper provides theory and evidence relating information asymmetries and agency costs to exit outcomes in venture capital backed entrepreneurial firms. Where venture capitalists are able to better mitigate information asymmetries and agency costs faced by the new owners of the firm, they...

Persistent link: https://www.econbiz.de/10014214816

Non-Rating Revenue and Conflicts of Interest

Baghai, Ramin - 2016

Rating agencies produce ratings used by investors, but obtain most of their revenue from issuers, leading to a conflict of interest. We employ a unique data set on the use of non-rating services, and the associated payments, in India, to test if this conflict affects ratings quality. Agencies...

Persistent link: https://www.econbiz.de/10013004961

The Influence of Institutionally Embedded Ownership on Anglo-American Corporate Governance Migration into Emerging Economy IPO Firms

Hearn, Bruce Allen - 2017

We argue that the corporate governance of emerging economy IPO firms is influenced by firm-specific institutionally embedded block ownership groups. Applying an extended institutional logic perspective and using a mixed-effects ordered probit model, our findings from 190 IPO-firms from 22...

Persistent link: https://www.econbiz.de/10012942360

The Returns to Private Debt : Primary Issuances Versus Secondary Acquisitions

Cumming, Douglas J. - 2018

Private debt fund managers invest in debt positions of private companies through new issuances or secondary acquisition of loans. We examine which strategy performs best using data from over 400 investments into private companies located in 13 Asian countries between 2001 and 2015. Trading...

Persistent link: https://www.econbiz.de/10012911347

Toward a Constitutional Review of the Poison Pill

Bebchuk, Lucian A. - 2014

We argue that the state-law rules governing poison pills are vulnerable to challenges based on preemption by the Williams Act. Such challenges, we show, could well have a major impact on the corporate-law landscape.The Williams Act established a federal regime regulating unsolicited tender...

Persistent link: https://www.econbiz.de/10013058140

The Case for an Unbiased Takeover Law (with an Application to the European Union)

Enriques, Luca - 2015

Takeover regulation should neither hamper nor promote takeovers, but instead allow individual companies to decide the … contestability of their control. Based on this premise, we advocate a takeover law exclusively made of default and menu rules … supporting an effective choice of the takeover regime at the company level. For reasons of political economy bearing on the …

Persistent link: https://www.econbiz.de/10013035649

1
2
3
4
5
6
7
8
9
10
Next
Last