Showing 1 - 10 of 16,102
After 1985, a large number of LBO project were not able to meet their debt. Among these cases, the Federated Department Stores LBO repurchased by Campeau and the Gateway LBO repurchased by Macy's. But, the conventional view of LBO transactions is that they are designed to improve the efficiency...
Persistent link: https://www.econbiz.de/10005170005
We find that growth type (identified by a two-way sort on firm initial market-to-book ratio and asset tangibility) can parsimoniously predict significantly dispersed and persistently distinct future leverage ratios. Growth type is persistent; growth-type-sorted cross-sections of corporate...
Persistent link: https://www.econbiz.de/10010580913
Bidders have an incentive to pay with stock when their shares are overvalued, but target firms should be reluctant to accept such overvalued payment. In a sample of 2978 acquisitions, we find that stock payment is readily accepted only when the bidder can justify the financing decision in terms...
Persistent link: https://www.econbiz.de/10010753524
We investigate the determinants of the capital structure of Brazilian companies between 2000 and 2009. We use a quantile regression model and compare its results with the ones provided by conventional models (least squares and fixed effects). We show that the effects of the capital structure...
Persistent link: https://www.econbiz.de/10010885090
This study examines the effects of corporate governance on capital structure, using the data of 145 small and medium-sized enterprises (SMEs) listed on the Taiwan Stock Exchange over the period 2000-2007. The results show that, when there is a high divergence between shareholdings and director...
Persistent link: https://www.econbiz.de/10010927759
This paper characterizes optimal intercorporate guarantees, under the classical trade-off between bankruptcy costs and taxation. Conditional guarantees, allowing the guarantor - or Holding company - to maintain limited liability vis-a-vis the beneficiary - or Subsidiary - maximize joint value....
Persistent link: https://www.econbiz.de/10005013924
This study examines how family firm characteristics affect capital structure decisions. In our analysis we disentangle the influence of three distinct components of a family firm: ownership, supervisory and management board activities by the founding family. Thereby, we use a unique panel...
Persistent link: https://www.econbiz.de/10009219898
This study investigates the capital structure and investment activities of listed companies on the Hanoi Securities Exchange and the Ho Chi Minh Securities Exchange in Vietnam. Estimation analysis using panel data covering the four-year period 2006-2009 revealed the following results. (1)...
Persistent link: https://www.econbiz.de/10009643957
This study investigates the factors determining the debt-ratios of listed companies on the Hanoi and Ho Chi Minh stock exchange markets. Estimation analysis using panel data covering the three-year period from 2006 to 2008 reveals the following results. (1) The debt-ratios of listed companies...
Persistent link: https://www.econbiz.de/10008563381
This study investigates the factors determining the capital structure of Indonesian listed companies before and after the implementation of economic reform policies subsequent to the 1997-1998 Asian financial crisis. The estimation analysis of the panel data for the period 1994-1997 and...
Persistent link: https://www.econbiz.de/10008563385