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Endogenous governance transparency and product market competition
Hidalgo-Cabrillana, Ana - In: SERIEs - Journal of the Spanish Economic Association 4 (2013) 1, pp. 113-136
This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...
Persistent link: https://www.econbiz.de/10010317073
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The board of directors and its role in the corporate governance system: Considerations about the control model ; a research note
Gstraunthaler, Thomas; Lukács, János; Steller, Marcel - In: International Journal of Economic Sciences and Applied … 1 (2008) 1, pp. 37-54
The paper examines the corporate governance mechanism of the control model (or insider control system) by looking at both the motivation for management to deviate from following their principal's wishes and whether the supervising body, the board of directors would correct them. Some...
Persistent link: https://www.econbiz.de/10010289411
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The effect of industry restructuring on peer firms
Holcomb, Alex; Mason, Paul - In: Journal of Risk and Financial Management 14 (2021) 5, pp. 1-25
We study the bond price reaction of a merged firms peers, in order to better understand how the market responds to a restructuring. We argue that a merger announcement may signal the possibility of a merger wave to the industry, and in doing so, increase the conditional probability that peer...
Persistent link: https://www.econbiz.de/10012611762
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Power, rent extraction, and executive compensation
Bebchuk, Lucian; Fried, Jesse - In: CESifo Forum 03 (2002) 3, pp. 23-28
Persistent link: https://www.econbiz.de/10011695703
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Influence of the economic and financial condition of strategic shareholders upon the market value of commercial banks in the Polish banking sector
Korzeb, Zbigniew - In: e-Finanse: Financial Internet Quarterly 10 (2014) 2, pp. 38-43
The objective of the paper is to analyse the influence of information about economic and financial problems of strategic shareholders upon the market value of commercial banks operating in the Polish banking sector. The analysis included fourteen such cases from the years 2007 - 2014. The...
Persistent link: https://www.econbiz.de/10011551429
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Competitiveness and Convergence: Trade, Merger Control, Industry, and Innovation. Reports
Rieth, Malte; Duso, Tomaso; Gornig, Martin; Werwatz, Axel; … - In: DIW Weekly Report 9 (2019) 16/18, pp. 140-147
Persistent link: https://www.econbiz.de/10012014956
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Wettbewerbsfähigkeit und Konvergenz: Handel, Fusionskontrolle, Industrie, Innovationen. Berichte
Kritikos, Alexander; Gornig, Martin; Werwatz, Axel; … - In: DIW Wochenbericht 86 (2019) 18, pp. 302-309
Persistent link: https://www.econbiz.de/10012016352
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Mergers and acquisitions (M&AS) by R&D intensive firms
Dutta, Shantanu; Kumar, Vinod - In: Journal of Risk and Financial Management 2 (2009) 1, pp. 1-37
In this study, we evaluate the impact of R&D intensity on acquiring firms' abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we evaluate...
Persistent link: https://www.econbiz.de/10011843216
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Timely loss recognition and termination of unprofitable projects
Srivastava, Anup; Sunder, Shyam V.; Tse, Senyo - In: China Journal of Accounting Research 8 (2015) 3, pp. 147-167
Ideally, firms should discontinue projects that become unprofitable. Managers, however, continue to operate such … unprofitable projects; thereby, enabling them to force managers to discontinue such projects before large value erosion occurs … increases the likelihood of timely closures of unprofitable projects. Moreover, managers, by announcing late discontinuations of …
Persistent link: https://www.econbiz.de/10011937008
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Does Target Firm's Earnings Management Affect Shareholder's Gains? Evidence from China
Mughal, Azhar; Haque, Abdul; Zahid, Zohaib; Ali, Furman; … - In: Credit and Capital Markets – Kredit und Kapital 55 (2022) 2, pp. 203-226
This study tests the hypothesis that the target firms are involved in earnings management activities in quarters leading to a takeover announcement. Using a sample of 3,455 Chinese listed firms that are targets of successful acquisitions over the period 2007–2020, and for a matched sample of...
Persistent link: https://www.econbiz.de/10014522302