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Essays in corporate finance
Laranjeira, Bruno d. - 2011
This thesis presents two essays in Corporate Finance. In the first essay, I use the August 2007 crisis episode to gauge the effect of financial contracting on real firm behavior. I identify heterogeneity in financial contracting at the onset of the crisis by exploiting ex-ante variation in...
Persistent link: https://www.econbiz.de/10009477629
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Corporate Governance von humankapitalintensiven Unternehmen
Weishaupt, Till - 2007
Hintergrund der Untersuchung ist die zunehmende Bedeutung von Humankapital als wettbewerbsentscheidendem Produktionsfaktor in modernen humankapitalintensiven Unternehmungen. Es stellt sich die Frage nach den Auswirkungen der Bedeutungszunahme und der Regelung des „Primärhumankapitals“, also...
Persistent link: https://www.econbiz.de/10009467060
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Essays on the Market for Corporate Control
Kim, Hwagyun (contributor) - 2009
This dissertation examines the relative importance of the information effect oncorporate takeover in total takeover …-offer. Overall, the corporatetakeover bid generates information gains up to 15 percent of total takeover gains.It also develops a … the sources of takeover gains? Dotakeovers create value? Why are stock offers more common? Who gains from suchtransactions …
Persistent link: https://www.econbiz.de/10009465227
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For The Many of The Few?
Wong, Wai Kin - 2011
Recent studies [Bebchuk and Fried (2002)] have shown that managerial power and negotiations play important roles in the design of executive pay arrangements, suggesting that some CEOs may extract greater economic rent from shareholders when provided with the opportunity. This paper seeks to...
Persistent link: https://www.econbiz.de/10009466153
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Divergence of investors? opinion and takeovers: the impact on announcement returns, bid success and merger arbitrage investment strategies
Whitehead, Marcela, Banking & Finance, Australian … - 2010
, we examine the effect of the market reaction to a takeover announcement in conjunction with divergence of opinion on deal … Australian acquirers and 584 targets and find some evidence that managers in takeover negotiations listen to the acquirer market … analysed this mpact. We find that by using divergence of opinion to predict takeover success, we can build a merger arbitrage …
Persistent link: https://www.econbiz.de/10009484192
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Recent Applications of Economic Theory in Information Technology Research
Yannis, Bakos; Kemerer, C.F. - 1992
Academicians and practitioners are becoming increasingly interested inthe economics of Information Technology (IT). In part, this intereststems from the increased role that IT now plays in the strategicthinking of most large organizations, and from the significant dollarcosts expended by these...
Persistent link: https://www.econbiz.de/10009435059
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Financial reporting discretion and voluntary disclosure: corporate research and development expenditure in Australia
Percy, Majella - 2000
The aim of this paper is to explain Australian R&D capitalisation and voluntary disclosure. It is argued that the discretionary choices available to management in Australia with respect to the accounting for and the disclosure of R&D expenditure and activities can be explained by the reduction...
Persistent link: https://www.econbiz.de/10009437483
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Agency theory : an extended conceptualisation and reformation
Temel-Candemir, Nurcan - 2005
The theory of Agency, specifically that developed by Jesen and Meckling (1976), will be the subject of examination. Agency theory has been the subject of extensive research since its introduction in modern form by Jensen and Meckling (1976). The generality of the theory of Agency appears...
Persistent link: https://www.econbiz.de/10009437985
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Can We All Get Along? Incentive Contracts to Bridge the Marketing and Operations Divide
Jerath, Kinshuk; Netessine, Serguei; Zhang, Z. John - 2007
The marketing and operations management arms in a firm must work in coordination – marketing efforts to create demand go to waste if supply is suboptimal, and vice versa. However, achieving this coordination has remained a long-standing problem, because in most firms these units are managed in...
Persistent link: https://www.econbiz.de/10009441005