The purpose of this study is to develop and empirically test theories on wealth effects surrounding divestiture of foreign and domestic subsidiaries by U.S. firms. Two primary research questions are addressed: (1) What are the wealth effects associated with divestiture of foreign and domestic...

The purpose of this study is to develop and empirically test theories on wealth effects surrounding acquisitions by investment bankers. The primary research objective deals with strong-form market efficiency. The test strives to determine if the results of information held by investment bankers...

The corporate form of business organization has associated with it potentially significant agency costs. These costs arise principally from the separation of ownership and control interests in the firm. While it is widely believed that multinational corporations (MNCs) with substantial foreign...

The purpose of this study is to extend the body of Agency Theory Literature to the class of relatively small firms that use the revolving Asset-Based Loan (ABL) as their major source of debt financing. Specifically, the revolving ABL structure is examined and implications for both the resolution...

Agency theory motivates the utilization of both restrictive covenants and convertible debt to reduce the agency problems associated with risky debt. Changes in restrictions may also provide signals to investors in the market. Shareholder wealth effects associated with 47 debt refunding...

This dissertation analyzes the interplay among managerial incentives, institutional investors, and corporate investment in the presence of efficient capital markets. In my model the fund manager is better informed than the market but has less information than the corporate manager. In this...

This thesis examines the impact of new product preannouncements and announcements on the value of the firm. There are three main findings. First, using the standard event study methodology, we find that the financial markets do not, on average, react significantly to new product preannouncements...

Scope and method of study. The purpose of this study is to examine the effect of ownership structure on the changes in firms' operating efficiency and profitability after privatization in the first wave of privatizations in the Czech Republic. There are 170 firms in this study. A combination of...

This article is a supplement to the stock technical analysis and its main objective is to classify 88 companies belonging to the Mexican Stock Exchange. Using principal component analysis (PCA) and linear discriminant analysis (LDA), the input hypothesis is to group companies according to their...