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New evidence, proofs, and legal theories on horizontal shareholding

Elhauge, Einer - 2018

This Article shows that new economic proofs and empirical evidence provide powerful confirmation that, even when horizontal shareholders individually have minority stakes, horizontal shareholding in concentrated markets often has anticompetitive effects. The new economic proofs show that,...

Persistent link: https://www.econbiz.de/10011810808

How horizontal shareholding harms our economy : and why antitrust law can fix it

Elhauge, Einer - 2018

Empirical evidence that horizontal shareholding has created anticompetitive effects in airline and banking markets have produced calls for antitrust enforcement. In response, others have critiqued the airline and banking studies and argued that antitrust law cannot tackle any anticompetitive...

Persistent link: https://www.econbiz.de/10011972909

Corporate governance

Lehmann, Erik - 2018 - Version , November 19th 2018

Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate … governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is … of value). Corporate governance is concerned with this link in general, but more specifically with the moral and ethical …

Persistent link: https://www.econbiz.de/10011928257

Buy low, sell high? : do private equity fund managers have market timing abilities?

Jenkinson, Tim; Morkoetter, Stefan; Wetzer, Thomas - 2018

When investors commit capital to a private equity fund, the money is not immediately invested but is called by the fund manager throughout an investment period of up to five years. This business model allows private equity fund managers to invest the committed capital at their own discretion,...

Persistent link: https://www.econbiz.de/10011906462

The real effects of private equity buyouts

Tåg, Joacim - 2010

Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...

Persistent link: https://www.econbiz.de/10008654164

Do financial conglomerates create or destroy economic value?

Schmid, Markus M.; Walter, Ingo - In: Journal of financial intermediation 18 (2009) 2, pp. 193-216

Persistent link: https://www.econbiz.de/10003832433

Do private equity owners increase risk of financial distress and bankruptcy?

Tykvová, Tereza; Borell, Mariela - 2011

There is some controversy on the key sources of success in the private equity model and on how this business model affects the portfolio companies. We investigate financial distress risks of European companies around the buyout event in the period between 2000 and 2008. In addition, we analyze...

Persistent link: https://www.econbiz.de/10009424110

Institution-driven comparative advantage, complex goods and organizational choice

Ferguson, Shon; Formai, Sara - 2011 - This version: August 2011

The theory of the firm suggests that firms can respond to poor contract enforcement by vertically integrating their production process. The purpose of this paper is to examine whether firms' integration opportunities affect the way institutions determine international trade patterns. We find...

Persistent link: https://www.econbiz.de/10009382375

Economic crisis and share price unpredictability : reasons and implications

Fox, Edward G.; Fox, Merritt B.; Gilson, Ronald J. - 2014

During the recent financial crisis, there was a dramatic spike, across all industries, in the volatility of individual firm share prices after adjustment for movements in the market as a whole. In this Article, we demonstrate that a similar spike has occurred with each major downturn in the...

Persistent link: https://www.econbiz.de/10010259665

Empirical research on corporate credit-ratings : a literature review

Matthies, Alexander B. - 2013

-the-cycle rating methodology ; corporate governance …

Persistent link: https://www.econbiz.de/10009681828