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Mergers and acquisitions transactions strategies in diffusion - type financial systems in highly volatile global capital markets with nonlinearities
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - Volkswirtschaftliche Fakultät, … - 2014
The M&A transactions represent a wide range of unique business optimization opportunities in the corporate transformation deals, which are usually characterized by the high level of total risk. The M&A transactions can be successfully implemented by taking to an account the size of investments,...
Persistent link: https://www.econbiz.de/10011259891
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The cost of capital and optimal financing policy in a dynamic setting
Karpavičius, Sigitas - In: Journal of Banking & Finance 48 (2014) C, pp. 42-56
setting. In an environment without taxes and bankruptcy costs, the results are generally consistent with the Modigliani … assumptions about either taxes or bankruptcy costs leads to conclusions that are generally different from those in Modigliani and … with the subjective discount factor of the firm’s manager if there are taxes and bankruptcy costs. The empirical analysis …
Persistent link: https://www.econbiz.de/10011077968
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AN INTRODUCTION TO BEHAVIORAL CORPORATE FINANCE
Vasile, Dedu; Sebastian, Turcan Ciprian; Radu, Turcan - In: Annals of Faculty of Economics 1 (2012) 2, pp. 471-476
The purpose of this paper is to reflect the behavioral aspects that govern corporations. The paper briefly presents some of the main pillars of behavioral corporate finance: management, closed – end funds puzzle, dividends and the importance of aggregate earnings releases. The first pillar...
Persistent link: https://www.econbiz.de/10010617374
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Estimating the Borrowing Behavior of French and German Firms An Econometric Analysis
Kremp, Elizabeth; Stöß, Elmar - In: Journal of Economics and Statistics (Jahrbuecher fuer … 221 (2001) 5-6, pp. 620-647
impact on borrowing according to the theory of signalling whereas the negative correlation of profit and debt supports …
Persistent link: https://www.econbiz.de/10008634433
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Loan Extension in China: a Rational Affair
Gennip, Piet van - de Nederlandsche Bank - 2005
Against the background of the problem of Non Performing Loans, the lack of data causes banking behaviour in China being wrapped in mystery. By making use of data reported by Shenzhenlisted firms, this paper reveals some stylized facts on loan extension in China. For that purpose both static and...
Persistent link: https://www.econbiz.de/10005106686
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Size Matters - "Over"investments in a Relational Contracting Setting
Englmaier, Florian; Fahn, Matthias - CESifo - 2015
The corporate finance literature documents that managers tend to overinvest into physical assets. A number of theoretical contributions have aimed to explain this stylized fact, most of them focussing on a fundamental agency problem between shareholders and managers. The present paper shows that...
Persistent link: https://www.econbiz.de/10011120475
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Multinational Firms and the Structure of International Trade
Antras, Pol; Yeaple, Stephen Ross - National Bureau of Economic Research (NBER) - 2013
This article reviews the state of the international trade literature on multinational firms. This literature addresses three main questions. First, why do some firms operate in more than one country while others do not? Second, what determines in which countries production facilities are...
Persistent link: https://www.econbiz.de/10010969233
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The Yield Curve as a Determinant of Investment in Durable Capital
Fellows, Garret Kent - Department of Economics, University of Calgary - 2014
Persistent link: https://www.econbiz.de/10010986625
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On modeling banking risk
Tsionas, Efthymios G. - Bank of Greece - 2014
financial institutions subject to the classical technology restrictions of neoclassical production theory. The model can be …
Persistent link: https://www.econbiz.de/10010855044
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The dynamics of succession in family businesses in Poland - Empirical results
SURDEJ, Aleksander; WACHH, K. - In: Economia Marche / Journal of Applied Economics XXXI (2012) 2, pp. 109-128
Carrying out successful succession in family businesses is an issue of vital significance for businesses themselves, and a great challenge for the pragmatics of family business management. It is also an issue important for the dynamics of Poland's economic development since it regards a wide...
Persistent link: https://www.econbiz.de/10010856921