hold sizeable toeholds in target shares. On one side, via liquidity transferring, acquirers can effectively transfer their … thinner liquidity discount on the valuation of their toeholds in fully acquired target assets. On the other, their long …-run stock liquidity can improve following the removal of their targets from the exchange. Using a sample of US delisted targets …

allows us to classify M&As into four categories, depending on the ownership of the acquirer and the target: 1) public re …

We examine the incentive effects of private equity (PE) professionals' ownership in the funds they manage. In a simple … model, we show that managers select less risky firms and use more debt financing the higher their ownership. We test these … risk decreases and leverage increases with the manager's ownership in the fund, but largely only when scaled with her …

We examine the relation between ownership structure and M&A target selection when family firms pursue public firm …

We study the impact on industry liquidity of delistings resulting from leveraged buyout activity. Using data on U ….S. LBOs during the 1985-2008 period, we uncover evidence of negative liquidity externalities. We find that the liquidity of … liquidity at the industry level …