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Für die Werthaltigkeit und Finanzierungskraft von Aktienmärkten ist es von nachhaltiger Bedeutung, inwiefern außenstehende Aktionäre hinreichend in ihren Eigentumsrechten geschützt sind. Anhand von Einzelfällen zwar häufig kontrovers diskutiert, konnte die Frage nach der Qualität des...
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transaction-implied value in the acquirer's balance sheet. Since the transaction value typically exceeds the target's pre-merger … book value, measured q tends to be lower for the merged firm than for the portfolio that combines both pre-merger entities …
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Refining and extending the methodology introduced by Daines (2001), I present evidence that small Delaware firms were worth more than small non-Delaware firms during the period 1991-1996 but not afterwards. I also present evidence that larger firms, which comprise 98% of my sample by size,...
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