This study addresses the pre-acquisition financial characteristics of privately held acquiring and acquired companies involved in 143 Belgian takeovers between 1992 and 1994. Specifically, the research examines the profitability, liquidity, financial structure, added value and failure risk using...

Few studies have addressed the pre-take-over financial characteristics of multiple versus single acquirers and their targets. Therefore this study investigates whether multiple acquirers, with some experience in acquiring companies, might acquire firms with different (better) financial...

Once a firm decides to issue debt, the characteristics of this debt instrument should be considered. One of the critical decisions involves debt maturity. Using a sample of 1091 Belgian small firms from 1996 until 2000, this study analyses the determinants of the corporate debt-maturity...

Faced with the question as to whether failure prediction models (multiple discriminant and logit analysis) from different countries can easily be transferred to other countries, this study examines the validity of a range of models on a dataset of Belgian company accounts, both when using the...

Few studies have addressed the performance of smaller unquoted companies involved in take-overs, especially in the Continental European countries. Therefore this study addresses the post-take-over financial characteristics of privately held companies involved in 143 Belgian take-overs between...

In this paper, two corporate governance models have been compared - the Anglo-Saxon and the Continental European models. These corporate governance models differ strongly, and the differences are mainly due to differences in the business context. The problems arising from separation of ownership...

This study tests the validity of the Belgian Ooghe-Joos-De Vos (1991) failure prediction models (1 and 3 years prior to failure) across 18 different industries and different size classes. Firstly, the performance results and the trade-off functions reveal a wide range of performances for the...

This paper examines firm-level determinants of mature firm exits after economic distress. Using nested logit models and a sample of 6,118 distress-related exits in Belgium, we analyze the type of exit that distressed firms experience. We show that 41% of the firms in our sample exit through a...