We present a model which examines the impact of taxes and the method of payment on the asset sale decision. An important difference between a takeover and an asset sale is that the seller survives as a corporate entity in the latter transaction. Therefore, the net effect of an asset sale depends...

This paper describes and analyzes a relatively new method of equity-based restructuring, Targeted Stock. We examine announcement period share price reactions for completed, pending , and canceled offerings. Although the total number of completed transactions to date is small, we document a...

This paper describes and analyzes a relatively new method of equity-based restructuring, Targeted Stock. We examine announcement period share price reactions for completed, pending, and canceled offerings. Although the total number of completed transactions to date is small, we document a...

We use an empirical methodology known as path analysis to study the interrelationships in the premarket, issue date, and aftermarket underwriting activities of investment banks, as well as the impact of such activities on short-run and long-run investor returns in initial public offerings...

This article examines the interaction between underwriter reputation and market activities during the initial public offering (IPO) process. Underwriter reputation is a significant determinant of premarket underwriter activities, weakly related to aftermarket price stabilization activities, and...

This paper describes and analyzes a relatively new method of equity-based restructuring, Targeted Stock. We examine announcement period share price reactions for completed, pending, and canceled offerings. Although the total number of completed transactions to date is small, we document a...