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Consistent valuation of project finance and LBO's using the flows-to-equity method

Cooper, Ian; Nyborg, Kjell G. - 2010

A common method of valuing the equity in highly leveraged transactions is the flows-to-equity method. When applying this method various formulas can be used to calculate the time-varying cost of equity. In this paper we show that some commonly used formulas are inconsistent with the assumptions...

Persistent link: https://www.econbiz.de/10008797682

International Market Entry by U.S. Internet Firms : An Empirical Analysis of Country Risk, National Culture, and Market Size

Rothaermel, Frank T. - 2015

We study international market entry in the context of the Internet, and ask: On what basis do U.S. Internet firms choose the markets that they enter? Our baseline hypothesis is that international market entry decisions are based on balancing perceived risks and returns inherent in a foreign...

Persistent link: https://www.econbiz.de/10012750710

Is rated debt arm's length? : evidence from mergers and acquisitions

Gropp, Reint; Hirsch, Christian; Krahnen, Jan Pieter - 2011

constant, rated firms increase their leverage in takeover transactions by less than their unrated counterparts. Consistent with …

Persistent link: https://www.econbiz.de/10008934787

The (heterogenous) economic effects of private equity buyouts

Davis, Steven J.; Haltiwanger, John C.; Handley, Kyle; … - 2022

The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive database of U.S. buyouts ever...

Persistent link: https://www.econbiz.de/10013163171

Entry mode and emerging market MNEs : an analysis of Chinese greenfield and acquisition FDI in the United States

Anderson, John; Sutherland, Dylan - In: Research in international business and finance 35 (2015), pp. 88-103

Persistent link: https://www.econbiz.de/10011570018

Foreign acquisition and credit risk : evidence from the U.S. CDS market

Yilmaz, Umit - 2016 - This draft: May 31, 2016

This paper empirically analyses the effect of foreign block acquisitions on the U.S. target firms' credit risk as captured by their CDS. The involvement of foreign investors leads to a significant increase in the target firms' CDS spreads. This effect is stronger when foreign owners are...

Persistent link: https://www.econbiz.de/10011519062

A Comparative Analysis of Hostile Takeover Regimes in the US, UK and Japan (with Implications for Emerging Markets)

Armour, John - 2010

decision making authority in responding to hostile takeover attempts. The hostile takeover regime in Japan, which developed … analytical framework for business law development to explain the diversity in hostile takeover regimes in these three countries … illuminates the current state and future trajectory of hostile takeover regulation in the important emerging markets of China …

Persistent link: https://www.econbiz.de/10013139378

U.S. Takeovers in Foreign Markets : Do They Impact Emerging and Developed Markets Differently?

Burns, Natasha - 2011

We investigate the effect that U.S. acquisitions of targets in emerging and developed countries have on the targets' rivals by measuring their stock price reaction to the acquisition announcement. On average, emerging market rivals react positively to these acquisitions while the reaction in...

Persistent link: https://www.econbiz.de/10013126066

Foreign Ownership and Firm Performance : Emerging-Market Acquisitions in the United States

Chari, Anusha - 2009

This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...

Persistent link: https://www.econbiz.de/10013159784

Cross-border mergers and acquisitions: Mature markets vs. emerging markets—with special reference to the USA and India

Duppati, Geeta; Rao, Narendar V. - In: Cogent business & management 2 (2015), pp. 1-11

Due to the differences in the merger waves across markets, the market for cross-border mergers and acquisitions by Indian companies differs in context and situations from those of the mature markets. Post-acquisition performance is critical to the success of companies involved in overseas...

Persistent link: https://www.econbiz.de/10012036509

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