Theoretical models suggest that ownership structure may be an important determinant of securities' market characteristics. For example, the presence of informed traders leads to greater bid-ask spreads (Copeland and Galai (1983), and Glosten and Milgrom (1985)), and strategic trading of informed...

The dissertation empiricallyexamines the efficacy of internalcontrol mechanisms by analyzing 94forced turnovers of chief executiveofficers (CEOs). It seeks to answertwo primary questions: One, dogovernance-related characteristicsinfluence the promptness with whichpoorly-performing CEOs...

Altinkiliç and Hansen (2000) show that underwriter spreads in seasoned equity offerings (SEOs) overwhelmingly reflect variable costs. This research attempts to begin filling the gap created by this result, as to what are the important constituents of the variable costs. In particular, I...

Some firms allow their CEO to hold the position of Chair of the Board of Directors while other firms choose to split those two positions between two different individuals. This dissertation first examines whether agency control mechanisms, agency problems, and other firm characteristics are...

This dissertation examines two different topics relatedto the issuance of a convertible debt security. The firstessay addresses the question of how managers set theequity value in a convertible debt issue. A convertibledebt security has value derived from an equitycomponent and a debt component....