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Stockholder Benefits From Japanese-U.S. Joint Ventures
Crutchley, Claire; Guo, Enyang; Hansen, Robert S. - In: Financial Management 20 (1991) 4
We examine the impact of joint ventures between industrial companies located in Japan and the U.S. on their stockholders' wealth. Consistent with previous evidence, stockholders of both Japanese and U.S. companies earn significant positive abnormal returns, on average. Further results show that...
Persistent link: https://www.econbiz.de/10005823814
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Dividend Policy and Corporate Monitoring: Evidence from the Regulated Electric Utility Industry
Hansen, Robert S.; Kumar, Raman; Shome, Dilip K. - In: Financial Management 23 (1994) 1
The payment of dividends imposes costs on the firm's shareholders in the form of higher taxes (relative to capital gains) and issuance costs arising from the dividend-induced need to acquire external equity, given the firm's investment and capital structure policies. Why, then, do firms pay...
Persistent link: https://www.econbiz.de/10005765065
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On the information role of stock recommendation revisions
AltInkIlIç, Oya; Hansen, Robert S. - In: Journal of Accounting and Economics 48 (2009) 1, pp. 17-36
We examine the information transmission role of stock recommendation revisions by sell-side security analysts. Revisions are associated with economically insignificant mean price reactions and often piggyback on recent news, events, long-term momentum, and short-run contrarian return predictors,...
Persistent link: https://www.econbiz.de/10008521712
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Do investment banks compete in IPOs?: the advent of the "7% plus contract"
Hansen, Robert S. - In: Journal of Financial Economics 59 (2001) 3, pp. 313-346
Persistent link: https://www.econbiz.de/10005477883
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The Demise of the Rights Issue
Hansen, Robert S. - In: Review of Financial Studies 1 (1988) 3, pp. 289-309
Persistent link: https://www.econbiz.de/10005564166
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DURABLE GOODS' CHARACTERISTICS AND MARKETING PRACTICES RECONSIDERED
BLAINE ROBERTS, R.; HANSEN, ROBERT S. - In: Studies in Economics and Finance 7 (1983) 1, pp. 3-9
A number of advances in the analysis of durability have appeared recently. There remain, however, some areas of misperception and inaccuracy with regard to the implications of durability. The purpose of this paper is to clarify two related issues. The first is the issue of which is most...
Persistent link: https://www.econbiz.de/10015013722
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ON THE CONSUMER WELFARE EFFECT OF VERTICAL INTEGRATION: A GENERALIZATION AND SIMPLIFICATION FOR THE CES CASE
HANSEN, ROBERT S. - In: Studies in Economics and Finance 7 (1983) 2, pp. 3-9
Within the vertical integration literature, it is a long standing proposition that the market level price of a downstream product is invariant with respect to the vertical integration and subsequent monopolization of that downstream industry by a lone input monopolist, given that the downstream...
Persistent link: https://www.econbiz.de/10015013725
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OPTIMAL BOND REFUNDING: EVIDENCE FROM THE MUNICIPAL BOND MARKET
Priyadarshi, Samaresh - 1997
<HTML><HEAD><META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=windows-1252"></HEAD><BODY><FONT FACE="Book Antiqua"><P ALIGN="JUSTIFY">This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American...</p></font></body></head></html>
Persistent link: https://www.econbiz.de/10009434140