Narrow search
Showing 1 - 10 of 159
Cover Image
Home Preference at Selecting Financial Advisors in Cross-Border M&As
Francis, Bill - 2012
This paper examines the determinants of the choice of financial advisors and their impact on the announcement effects of US acquirers in cross-border M&As. Two hypotheses are tested: one pertains to the acquiring firms' home preference in selecting financial advisors, and the other relates to...
Persistent link: https://www.econbiz.de/10013098169
Cover Image
Does Relationship Matter? The Choice of Financial Advisors
Francis, Bill - 2012
Using a sample of U.S. mergers and acquisitions, this study evaluates how banking relationships influence acquirers' choice of financial advisors. Specifically, it examines: i) acquirers' previous relationships with advisors in various financial activities: M&A advisories, equity issuings and...
Persistent link: https://www.econbiz.de/10013098176
Cover Image
State Antitakeover Laws and Voluntary Disclosure
Zhao, Yijiang - 2012
We test the relationship between takeover protection and voluntary disclosure in a setting of antitakeover laws in a … this association. Our findings are consistent with takeover protection and poor disclosure serving as substitute mechanisms … for deterring takeovers. Therefore, as antitakeover statutes mitigate takeover threats, they enhance managers' incentives …
Persistent link: https://www.econbiz.de/10013101924
Cover Image
Tournament Incentives and Acquisition Performance
Hasan, Iftekhar - 2020
This paper examines the impact of promotion-based tournament incentives on corporate acquisition performance. Measuring tournament incentives as the compensation ratio between the CEO and other senior executives, we show that acquirers with greater tournament incentives experience lower...
Persistent link: https://www.econbiz.de/10012853036
Cover Image
Can Firms Learn by Observing? Evidence from Cross-Border M&As
Francis, Bill - 2014
​In the presence of high uncertainty and limited experience, can observing the actions of other acquiring predecessors help firms make better acquisition decisions? Using a sample of cross-border M&As conducted by US acquirers in developing countries, we document a positive and significant...
Persistent link: https://www.econbiz.de/10013046135
Cover Image
Cross-Border Bank M&As and Risk : Evidence from the Bond Market
Choi, Sungho - 2010
The impact of cross-border bank M&As on bank risk remains an open question. Though geographically diversifying bank M&As have the potential to reduce the risk of bank insolvency, they also have the potential to increase that risk due to the increase in risk-taking incentives for bank managers...
Persistent link: https://www.econbiz.de/10013146977
Cover Image
The cost of sin: The effect of social norms on audit pricing
Leventis, Stergios; Hasan, Iftekhar; Dedoulis, Emmanouil - 2013
In this paper we provide evidence for the effects of social norms on audit pricing by studying companies belonging to the alcohol, firearms, gambling, military, nuclear power, and tobacco industries, which are often described as "sin" companies. We hypothesize that the disparities between "sin"...
Persistent link: https://www.econbiz.de/10012148184
Cover Image
Professors in the Boardroom and their Impact on Corporate Governance and Firm Performance
Francis, Bill - 2014
Directors from academia served on the boards of around 40% of S&P 1,500 firms over the 1998–2011 period. This paper investigates the effects of academic directors on corporate governance and firm performance. We find that companies with directors from academia are associated with higher...
Persistent link: https://www.econbiz.de/10013064456
Cover Image
The Cost of Sin : The Effect of Social Norms on Audit Pricing
Leventis, Stergios - 2013
In this paper we provide evidence for the effects of social norms on audit pricing by studying companies belonging to the alcohol, firearms, gambling, military, nuclear power, and tobacco industries, which are often described as “sin” companies. We hypothesize that the disparities between...
Persistent link: https://www.econbiz.de/10013075610
Cover Image
Does It Cost to Be Politically Connected? An Examination of the Grabbing Hand Hypothesis Using Corporate Taxes
Arifin, Taufiq - 2019
We study a channel through which politicians can use corporate taxes to extract firm's resources. We find that politically-connected firms pay higher taxes than their non-connected counterparts. Using election as an exogenous shock, we also observe that politically-connected firms pay higher...
Persistent link: https://www.econbiz.de/10012870408