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Wilson, Linus; Wu, Yan Wendy - In: Journal of Financial Stability 8 (2012) 1, pp. 32-42

This paper studies the factors that were associated with a bank's early exit from the Troubled Asset Relief Program (TARP) in 2009. Executive pay restrictions were often a rationale cited for early TARP exit, and high levels of CEO pay in 2008 were associated with banks being significantly more...

Persistent link: https://www.econbiz.de/10010599314

Anchoring bias in the TARP warrant negotiations

Wilson, Linus - In: Journal of Economics and Business 64 (2012) 1, pp. 63-76

Congressional Oversight Panel's estimates of the warrants’ value. In contrast to the experimental psychology studies on anchoring …

Persistent link: https://www.econbiz.de/10010599712

The pricing of French unit seasoned equity offerings

Ginglinger, Edith; Chollet, Pierre - Université Paris-Dauphine (Paris IX) - 2001

Units are bundles of common stock and warrants. By issuing units, firms precommit to a future and uncertain seasoned … offering at the exercise price of the warrants. This study shows that the issuance of units seasoned offerings in France is …

Persistent link: https://www.econbiz.de/10010707146

Why do companies include warrants in seasoned equity offerings?

Lasfer, Meziane; Gajewski, Jean-François; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2007

We analyze the reasons why companies issue units when they raise additional capital. We find that, in contrast to previous evidence, units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public rather than...

Persistent link: https://www.econbiz.de/10010707472

Death Spiral Issues in Emerging Market: A Control Related Perspective

Kim, Woochan; Kim, Woojin; Kim, Hyung-Seok - Volkswirtschaftliche Fakultät, … - 2012

This paper studies the motive of issuing floating-priced convertibles or warrants, known as death spirals, in a country …

Persistent link: https://www.econbiz.de/10011112970

Does venture capital investment spur employment growth?

Belke, Ansgar; Fehn, Rainer; Foster-McGregor, Neil - 2003

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...

Persistent link: https://www.econbiz.de/10011507850

Comparative venture capital governance : private versus labour sponsored venture capital funds

Cumming, Douglas J.; MacIntosh, Jeffrey G. - 2003

Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general...

Persistent link: https://www.econbiz.de/10011514156

Venture capital investment and labor market performance : a panel data analysis

Belke, Ansgar; Fehn, Rainer; Foster-McGregor, Neil - 2001

Labor market performance has differed considerably between OECD countries over the last two decades. The focus of the literature so far has been to ask whether these differences can be explained by varying degrees of labor market rigidities and generosity of welfare states. This paper takes a...

Persistent link: https://www.econbiz.de/10010496600

Institutional changes of SPACs

Lakicevic, Milan; Shachmurove, Yochanan; Vulanovic, Milos - 2013

We document the changes of corporate design of modern Specified Purpose Acquisition Companies (SPACs) from 2003 to 2012 …. We assign the impact on changes of SPACs to each of the three groups of stakeholders: founders, investors and … underwriters and test whether institutional characteristics of SPACs determine the success of their merger outcomes. We document …

Persistent link: https://www.econbiz.de/10010311144

Reducing Asymmetric Information in Venture Capital Backed IPOs

Escobari, Diego; Serrano, Alejandro - 2015

Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. We also...

Persistent link: https://www.econbiz.de/10011390741