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Merger performance and managerial incentives
Kräkel, Matthias; Müller, Daniel - 2014
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. …
Persistent link: https://www.econbiz.de/10011430291
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A theory of firm decline
Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, Sonia - 2010 - This version: July 20, 2009
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...
Persistent link: https://www.econbiz.de/10008732070
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A Theory of Firm Decline
Clementi, Gian Luca - 2009
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter's operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of repeated...
Persistent link: https://www.econbiz.de/10013158062
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A Theory of Firm Decline
Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, … - 2010
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...
Persistent link: https://www.econbiz.de/10014191904
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Agency, Firm Growth and Managerial Turnover
Anderson, Ronald W.; Bustamante, Maria Cecilia; … - 2016
We study managerial incentive provision under moral hazard in an environment where growth opportunities arrive stochastically over time and taking them requires a change of management. The firm faces a trade-off between the benefit of always having a manager able to seize new opportunities and...
Persistent link: https://www.econbiz.de/10014040704
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Bidder cash reserve effect under the precautionary motive: Evidence from UK
Gao, Ning; Mohamed, Abdulkadir - 2011
-trivial institutional holdings. Moreover, cash-rich bidders' post-acquisition operating performance is positively related to bidder cash …
Persistent link: https://www.econbiz.de/10010409434
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The firm size and leverage relationship and its implications for entry and concentration in a low interest rate world
Chatterjee, Satyajit; Eyigungor, Burcu - 2019
Larger firms (by sales or employment) have higher leverage. This pattern is explained using a model in which firms produce multiple varieties and borrow with the option to default against their future cash ow. A variety can die with a constant probability, implying that bigger firms (those with...
Persistent link: https://www.econbiz.de/10012058912
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mergers & acquisition
Grünhagen, Marko; Sadeh, Farhad - In: Journal of Inter-Organizational Relationships 27 (2021) 1/2, pp. 15-26
Persistent link: https://www.econbiz.de/10012695017
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The aftermaths of acquisition in Indonesia
Syukur, Muhammad; Bungkilo, Dej-anan - In: International journal of monetary economics and finance … 13 (2020) 1, pp. 16-33
Persistent link: https://www.econbiz.de/10012177966
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Corporate mergers and accounting performance during a period of economic crisis : evidence from Greece
Pazarskis, Michail; Vogiatzoglou, Manthos; Koutoupis, … - In: Journal of business economics and management 22 (2021) 3, pp. 577-595
Merger deals are one of the most important business strategies which can change the company value dramatically. Mergers … analyze merger activities during economic crisis periods, as it was in Greece recently. This paper explores the accounting … for one year before and after the merger. The analysis of Greek listed companies that comprise the final sample is …
Persistent link: https://www.econbiz.de/10012506241