Purpose – This paper aims to extend the work by Vafeas and Lie and Lie by developing an empirical model of choice among four alternative mechanisms for distributing cash from corporations to shareholders: a fixed-price self-tender offer, a Dutch auction self-tender offer, an open market share...

Purpose – This paper aims to extend the work by Vafeas and Lie and Lie by developing an empirical model of choice among four alternative mechanisms for distributing cash from corporations to shareholders: a fixed‐price self‐tender offer, a Dutch auction self‐tender offer, an open market...

The dissertation studies two aspects of the U.S. registered investment companies. The first essay analyzes the ownership and organizational structure aspect while the second essay investigates the restructure events of those investment companies. We find sellers from mutual fund asset sales are...