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Run-Up of Acquirer's Stock in Public and Private Acquisitions
Cumming, Douglas J. - 2010
Acquisition announcements generate predictable movements in the price of the acquirer's stock. For example, post-announcement returns are typically negative for high Tobin's q acquirers, stock transactions, and foreign targets, but positive for private equity-backed private targets....
Persistent link: https://www.econbiz.de/10013136477
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Run-Up of Acquirer’s Stock in Public and Private Acquisitions
Cumming, Douglas J. - 2014
Manuscript Type: EmpiricalResearch Question/Issue: This paper empirically examines whether there is pre-announcement movement of an acquirer's share price and trading volume prior to the announcement of acquisitions in ways consistent with insider trading. Prior papers focus on insider trading...
Persistent link: https://www.econbiz.de/10013069704
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Comparative venture capital governance : private versus labour sponsored venture capital funds
Cumming, Douglas J.; MacIntosh, Jeffrey G. - 2003
Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general...
Persistent link: https://www.econbiz.de/10011514156
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The fast track IPO : success factors for taking firms public with SPACs
Cumming, Douglas J.; Haß, Lars Helge; Schweizer, Denis - In: Journal of banking & finance 47 (2014), pp. 198-213
Persistent link: https://www.econbiz.de/10010506492
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The Value of Capital Market Regulation : IPOs versus Reverse Mergers
Carpentier, Cécile - 2012
We analyze the economic consequences of disclosure and regulation within a context of significant information asymmetry … and lenient regulation. In Canada, firms can enter the stock market at a pre-revenue stage by fulfilling each of the … self-selection, we find that the choice of the listing method and regulation strictness significantly influence the value …
Persistent link: https://www.econbiz.de/10013115006
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The Value of Home-Country Governance for Cross-Listed Stocks
Cumming, Douglas J. - 2014
pertains to the firm's exposure to sovereign risk, corruption, and poor regulation. We show that both are important drivers of …
Persistent link: https://www.econbiz.de/10013069082
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Developments in Financial Institutions, Governance, Agency Costs, and Misconduct
Cumming, Douglas J. - 2017
role of auditors, boards of directors, CEOs, ownership, and financial market regulation. We show Google Scholar and Web of …
Persistent link: https://www.econbiz.de/10012953693
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The Value of Home-Country Governance for Cross-Listed Stocks
Cumming, Douglas J. - 2014
pertains to the firm's exposure to sovereign risk, corruption, and poor regulation. We show that both are important drivers of …
Persistent link: https://www.econbiz.de/10013056258
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Public Economics Gone Wild : Lessons from Venture Capital
Cumming, Douglas J. - 2013
A recent article in the Journal of Public Economics has asserted, among other things, that government venture capital funds in Europe have crowded out private venture capital. In this research note, I explain that the findings in that paper are based on empirical measures that are completely...
Persistent link: https://www.econbiz.de/10013089235
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Public Policy, Entrepreneurship, and Venture Capital in the United States
Cumming, Douglas J. - 2014
This paper empirically examines business starts, deaths, venture capital and patents in relation to U.S. public policy. The most consistent evidence in the data shows that lower levels of labor frictions and higher levels of SBIR awards are associated with more business starts and higher levels...
Persistent link: https://www.econbiz.de/10013070904