Narrow search
Showing 1 - 10 of 5,595
Cover Image
Acquisitions as a Real Options Bidding Game
Smit, Han T.J.; van den Berg, Ward A.; Maeseneire, Wouter De - 2004
expected target value, and uncertainty, determine value appropriation in acquisitions. …
Persistent link: https://www.econbiz.de/10010325204
Cover Image
Buying to Sell: A Theory of Buyouts
Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2010
Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...
Persistent link: https://www.econbiz.de/10010320382
Cover Image
Technological Specialization and the Decline of Diversified Firms
Anjos, Fernando - 2018
, diversification discount, frequency and returns of diversifying mergers, and frequency of refocusing activity …
Persistent link: https://www.econbiz.de/10012940392
Cover Image
A Test of IPO Theories Using Reverse Mergers
Asquith, Paul - 2011
Reverse mergers are an alternative method to IPOs for going public and announcement day price reaction to reverse … mergers is comparable to the initial day price reaction to IPOs. Most of the academic theories developed thus far to explain … the market's reaction to IPOs, however, are not applicable to reverse mergers. Using reverse mergers as an out …
Persistent link: https://www.econbiz.de/10013131627
Cover Image
An Overview of Leveraged Buy-Out Transactions
Seel, Gregory - 2011
In this short expository note I provide an overview of leveraged buy-out transactions (“LBOs”). I show in detail how an LBO transaction is structured and financed, as well as the typical return profile. I also provide a sample transaction accompanied by financial projections, debt repayment...
Persistent link: https://www.econbiz.de/10013134028
Cover Image
Managerial Remuneration and Disciplining in the UK : A Tale of Two Governance Regimes
Renneboog, Luc - 2010
We simultaneously analyze two mechanisms of the managerial labor market (CEO turnover and remuneration schemes) in two different regulatory regimes, namely before and after the sweeping governance reforms adopted in the UK in the 1990s. We employ sample selection models to examine firms in a...
Persistent link: https://www.econbiz.de/10013135217
Cover Image
Behavioral Corporate Finance : An Updated Survey
Baker, Malcolm P. - 2011
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10013121566
Cover Image
Book Review of the Theory of Corporate Finance
Dionne, Georges - 2011
The book proposes an original contribution to the economics and finance literature by developing the foundations of corporate finance. It also covers in detail various corporate governance issues faced by organizations. The common treatment of corporate finance and corporate governance started...
Persistent link: https://www.econbiz.de/10013123788
Cover Image
Concentration of Power and Corporate Performance Variability
Di Miceli da Silveira, Alexandre - 2013
We investigate whether the concentration of power in the hands of individuals characterized as business leaders influences the variability of corporate performance. We do so by proposing an original method to estimate the concentration of power that takes into account both the individual...
Persistent link: https://www.econbiz.de/10013086074
Cover Image
Testing Trade-Off and Pecking Order Models Under Different Institutional Environments
Farhat, Joseph B. - 2014
In this paper, we examine the differences in information asymmetry and financing patterns and a generalized version of the trade-off theory across countries with different institutional environments. We find that firms in Civil law countries have higher information asymmetry, rely more on...
Persistent link: https://www.econbiz.de/10013071172