The executive compensation literature argues that executives generally value stock options at less than market value because of suboptimal ownership and risk aversion. Implicit in this finding is the assumption that executives are, like shareholders, price takers. That is, they have no ability...

We examine the use of a contracting method in mergers and acquisitions known as an earnout. In this type of transaction, the bidder agrees to pay the target an initial amount for the acquisition plus future payments contingent on the achievement of performance milestones. Theory suggests that...

The dissertation studies two aspects of the U.S. registered investment companies. The first essay analyzes the ownership and organizational structure aspect while the second essay investigates the restructure events of those investment companies. We find sellers from mutual fund asset sales are...

This dissertation consists of three essays on corporate acquisitions, bidders liquidity and monitoring. In the first essay, Acquisitions and Bidders Liquidity: Evidence from Successful and Unsuccessful Takeovers, I examine the impact of corporate acquisitions on bidders liquidity. I find that...