Narrow search
Showing 1 - 10 of 1,451
Cover Image
Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from … countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries …-price reaction than the country of the acquirer. Second, for acquisitions of private firms or subsidiaries, acquirers gain more when …
Persistent link: https://www.econbiz.de/10013131906
Cover Image
State Ownership and the Allocation of Capital
Kuang, Chun - 2019
This paper studies the capital allocation decisions of firms that are comparable except for ownership under a unique setting using investment level data. We find allocative inefficiency across ownership to be exacerbated under policy distortions through subsidized credits targeted at state-owned...
Persistent link: https://www.econbiz.de/10012897632
Cover Image
Path Dependence or Convergence? The Evolution of Corporate Ownership Around the World
Yeh, Andy - 2016
We derive and develop a simple and intuitive model that shines fresh light on the relentless debate over whether corporate ownership converges to the Berle-Means modern corporation with high stock ownership dispersion. Our model takes into account the importance of both protective legal...
Persistent link: https://www.econbiz.de/10013004147
Cover Image
The Effect of Accounting Conservatism on Corporate Investment during the Global Financial Crisis
Balakrishnan, Karthik - 2016
This paper examines the effect of accounting conservatism on firm-level investment during the 2007-2008 global financial crisis. Using a differences-in-differences design, we find that firms with less conservative financial reporting experienced a sharper decline in investment activity following...
Persistent link: https://www.econbiz.de/10012987650
Cover Image
An Overview of Collateralization Fundamentals & the ISDA Credit Support Annex
Burgess, Nicholas - 2018
In this paper we discuss the continued transition of financial markets towards trade standardization and the clearing of transactions, outlining the role of central clearing counterparties CCPs in reducing systemic and idiosyncratic risk. We contrast this with a discussion on bespoke non-cleared...
Persistent link: https://www.econbiz.de/10012932874
Cover Image
International Evidence on Value Creation in Private Equity Transactions
Puche, Benjamin - 2015
Understanding value creation at the transaction level is at the heart of explaining private equity (PE) returns. Taking advantage of a proprietary sample of 2,029 international buyout deals executed between 1984 and 2013 we provide detailed evidence on financial, market and operational value...
Persistent link: https://www.econbiz.de/10013032461
Cover Image
Missing Them Yet? Investment Banker Directors in the 21st Century
Jagannathan, Murali - 2019
Subsequent to the stricter corporate governance listing standards adopted by the NYSE and NASDAQ in the early part of this century and the independence requirements of the Sarbanes Oxley Act of 2002 (SOX), the number of investment bankers (IB) serving on corporate boards has declined...
Persistent link: https://www.econbiz.de/10012862499
Cover Image
ESG in the Top 100 US Private Equity Firms
Markarian, Garen; Rakotobe, Calvin; Semionov, Alexander - 2023
We look at the ESG practices of the US’s top 100 private equity firms, representing more than $1.5 trillion of committed capital and directly employs 12 million individuals in the United States. We find that the ESG practices, and their corresponding disclosures, significantly lag behind that...
Persistent link: https://www.econbiz.de/10014348698
Cover Image
Investor Protection and Choice of Share Issuance Mechanism
McLean, R. David - 2013
Legal investor protection is associated with how firms choose to issue shares. The likelihood of private placements relative to rights offerings increases with investor protection, as does the likelihood of public offerings relative to both private placements and rights offerings. These findings...
Persistent link: https://www.econbiz.de/10013094630
Cover Image
Terror threat and investor sentiment : International evidence
Boulton, Thomas J.; Shank, Corey A. - In: Global finance journal 59 (2024), pp. 1-17
Persistent link: https://www.econbiz.de/10014545141