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Productivity, restructuring, and the gains from takeovers

Li, Xiaoyang - In: Journal of Financial Economics 109 (2013) 1, pp. 250-271

This paper investigates how takeovers create value. Using plant-level data, I show that acquirers increase targets' productivity through more efficient use of capital and labor. Acquirers reduce capital expenditures, wages, and employment in target plants, though output is unchanged. Acquirers...

Persistent link: https://www.econbiz.de/10010665553

Interest Rate Variations and Stock Market Capitalization in Nigeria: An Empirical Analysis

Jeroh, Edirin - In: Acta Universitatis Danubius. OEconomica (2012) 5(5), pp. 5-14

In most economies, variations in interest rates have become a prominent feature both in the long-run and short-run. This study thus examines by means of robust analysis, the effect of the variations in interest rates on the level of stock market capitalization in Nigeria for a period of 29 years...

Persistent link: https://www.econbiz.de/10010614556

Savings and Investments in the OECD: a panel cointegration study with a new bootstrap test

Di Iorio, Francesca; Fachin, Stefano - Dipartimento di Scienze Statistiche, Facoltà di … - 2012

In this paper we test for the existence of a long-run savings-investments relationship in 18 OECD economies over the … and investments, this cannot be ruled out as individual time series tests may have low power. We thus construct a new … long-run savings-investments relationship in about half of the OECD economies examined, including USA and Japan, but not …

Persistent link: https://www.econbiz.de/10010616502

THE IMPACT OF INVESTMENTS, EXPORTS, AND OPENNESS ON ECONOMIC GROWTH. A COMPARATIVE STUDY ON THE EAST EUROPEAN COUNTRIES

Ramona, Simut - In: Annals of Faculty of Economics 1 (2012) 2, pp. 420-425

and the process of economic growth. This paper examines the role of investments, export and openness in relation to …

Persistent link: https://www.econbiz.de/10010617393

ECONOMIC BENEFITS OF DEVELOPING INTERMODAL TRANSPORT IN THE EUROPEAN UNION

Simina, Darabann; Patrick, Stefanescu; Radu, Crisan - In: Annals of Faculty of Economics 1 (2012) 2, pp. 81-87

captured in traditional cost-benefit analyses. Transportation investments can have large long-term economic, social and … investments in the intermodal transport infrastructure and the long-term economical benefits if it. …

Persistent link: https://www.econbiz.de/10010617473

The minimum balance at risk: a proposal to mitigate the systemic risks posed by money market funds

McCabe, Patrick E.; Cipriani, Marco; Holscher, Michael; … - Federal Reserve Bank of New York - 2012

This paper introduces a proposal for money market fund (MMF) reform that could mitigate systemic risks arising from these funds by protecting shareholders, such as retail investors, who do not redeem quickly from distressed funds. Our proposal would require that a small fraction of each MMF...

Persistent link: https://www.econbiz.de/10010570176

Real Wicksell effect, demand for capital and stability

Fratini, Saverio M. - Dipartimento di Economia, Università degli Studi di Roma 3 - 2012

between investments and savings. It is shown for a model with n commodities, infinitely many linear technique of production …

Persistent link: https://www.econbiz.de/10010570287

THEORETICAL CONSIDERATION OF FINANCIAL RISKS ON INVESTMENTS

Cecilia-Elena, Vaduva - In: Annals - Economy Series 1 (2012) March, pp. 215-218

. Financial investments are the purchase of shares, debentures or placing of money to financial institutions in order to provide …

Persistent link: https://www.econbiz.de/10010571339

Diversification revisited

Kemper, Kris; Lee, Allissa; Simkins, Betty J. - In: Research in International Business and Finance 26 (2012) 2, pp. 304-316

Many investment companies hold diversified asset portfolios and frequently try to mirror or outperform a market index for each asset class such as stocks and bonds. As Wibaut and Wilford (2009) show, often the same issuers appear in each of those indices and this may lead to undesirable results...

Persistent link: https://www.econbiz.de/10010572448

Corporate equity ownership, investment, and product market relationships

Clayton, Matthew J.; Jorgensen, Bjorn N. - In: Journal of Corporate Finance 17 (2011) 5, pp. 1377-1388

This paper examines the effect of corporate equity ownership on investment when firms have product market relationships. Firms have incentives to hold long equity positions when their products are complements. These equity positions induce the firms to increase their real investment...

Persistent link: https://www.econbiz.de/10010574259