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data, support was found for the Bounded Rationality hypothesis; firms have less uncertainty about an acquisition’s … hypothesis; firms whose prior machines perform below aspiration levels seek more uncertainty in their subsequent acquisitions … uncertainty over the acquisition’s ability to fulfill customer desires was associated with the acquisition of a less expensive …
Persistent link: https://www.econbiz.de/10009438770
Interpreting accruals as working capital investment, we hypothesize that firms optimally adjusttheir capital investment in response to discount rate changes. Consistent with the discount-ratehypothesis, we document that (i) the predictive power of accruals for future returns increaseswith the...
Persistent link: https://www.econbiz.de/10009476721
This dissertation studies strategies to mitigate the risks associated with operational and strategic decisions of a firm, particularly focusing on project management, product development and procurement decisions. In the first essay we develop two simulation-based methods to evaluate risky...
Persistent link: https://www.econbiz.de/10009429276
This dissertation consists of two essays on corporate finance. Essay one examines whether corporate governance affects firm performance after capital investments. I find that among firms with weak corporate governance, those with high abnormal capital investments have significantly lower stock...
Persistent link: https://www.econbiz.de/10009429353
Cycles in initial public offer (IPO) underpricing have been historically linked to both the proportion and pricing of resource-based IPOs issued relative to the entire population of IPOs. In addition, IPOs in the less diversified resource sector are exposed to changes in underlying commodity...
Persistent link: https://www.econbiz.de/10009441607
It is generally accepted that investors who invest in initial public offering shares on the Johannesburg Stock Exchange (JSE) expect to get returns that are in line with the risk to which they expose their investments. It would be beneficial for these investors, particularly those who invest for...
Persistent link: https://www.econbiz.de/10009447521
The role of top managers in shaping the performance of the firms that employthem represents a central issue to strategic management research. Indeed, a substantialamount of research has examined potential linkages between the characteristics of topmanagers and firm performance. However the...
Persistent link: https://www.econbiz.de/10009465005
In this dissertation I examine the informational externalities ofgoing public decisions for industrial and banking sector. Theresults show that industrial rivals have positive valuation effectsonly in response to venture backed IPOs and no significantreaction in response to non-venture backed...
Persistent link: https://www.econbiz.de/10009468631
In this dissertation I examine the informational externalities of going public decisions for industrial and banking sector. The results show that industrial rivals have positive valuation effects only in response to venture backed IPOs and no significant reaction in response to non-venture...
Persistent link: https://www.econbiz.de/10009451113
Professional Doctorate - Doctor of Business Administration (DBA)
Persistent link: https://www.econbiz.de/10009480738