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Business Groups and Profit Redistribution : A Boon or Bane for Firms?

George, Rejie - 2012

This study examines the phenomenon of profit redistribution among group-affiliated firms and relates it with corporate performance. It finds that group-affiliated firms perform poorly relative to independent firms. More importantly, the study documents the possibility of inefficient profit...

Persistent link: https://www.econbiz.de/10012713466

Corporate Governance and Corporate Agility

Lehn, Kenneth - 2019

Most of the extensive literature on corporate governance during the past fifty years has approached the topic from the perspective of agency theory and it has focused on dimensions of governance that are relatively easy to measure (e.g., ownership structure, size and structure of boards,...

Persistent link: https://www.econbiz.de/10012859628

Classes in Maximizing Shareholders’ Wealth : Irving Fisher's Theory of the Economic Organization in Corporate Financial Economics Textbooks

Cardão-Pito, Tiago - 2018

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...

Persistent link: https://www.econbiz.de/10012916286

Why Airline Mergers Don't Work

Cook, Victor J. - 2008

Over the years since airline deregulation five of the remaining U.S. legacy carriers lost money on mergers that cost them a total of $29.6 billion. The combined market cap of these carriers at the end of 2007 was $15.5 billion. In other words, their return on merger investments was -48%. Why?...

Persistent link: https://www.econbiz.de/10012723970

Determinants of Return-Maximizing CEO Equity & Cash Compensation Determinants of Return-Maximizing CEO Equity & Cash Compensation

Pandher, Gurupdesh S. - 2022

While the literature appeals to efficiency arguments from agency theory to explain the relative rise of CEO equity compensation, prior work has given less focus to CEO pay contracts based on equity and cash incentives that directly (analytically) maximize the total return of firm owners. The...

Persistent link: https://www.econbiz.de/10013491558

UWARUNKOWANIA KULTUROWE A POWIĄZANIA MIĘDZYFIRMOWE W SEKTORACH GLOBALNYCH. PERSPEKTYWA EMPIRYCZNA

Golonka, Monika - Volkswirtschaftliche Fakultät, … - 2011

results support the importance of institutions in international strategic management and entrepreneurship. …

Persistent link: https://www.econbiz.de/10009402047

Small Firms' Actions and their Survival Probabilities

Reid, Gavin C - Centre for Research into Industry, Enterprise, Finance … - 1997

The small firm is viewed as taking a complex of actions to facilitate market place survival. Selection of such actions involves choice about markets, costs, strategy, finance, organisation, human capital and innovation. Probit models of survival over two years are estimated for a random sample...

Persistent link: https://www.econbiz.de/10005673140

How Do Banks Pick Safer Ventures? A Theory Relating the Importance of Risk Aversion and Collateral to Interest Margins and Credit Rationing

Burke, Andrew E.; Hanley, Aoife - In: Journal of Entrepreneurial Finance 8 (2003) 2, pp. 13-24

The paper augments the asymmetric information literature on bank lending to new ventures by focusing on the more neglected area of moral hazard; specifically the relationship between risk aversion, an entrepreneur?s wealth and the provision of collateral. The results highlight some interesting...

Persistent link: https://www.econbiz.de/10011133305

Initial capital constraints hinder entrepreneurial venture performance : an empirical analysis

Praag, Mirjam van - 2003

A novel method is applied to evaluate the effect of capital constraints on entrepreneurial performance on a panel of 1,000 Dutch entrepreneurs. We find that initial capital constraints hinder entrepreneurs in their performance, even when we control for various human capital and other factors...

Persistent link: https://www.econbiz.de/10011506454

Entrepreneurship, economic risks, and risk-insurance in the welfare state

Ilmakunnas, Pekka; Kanniainen, Vesa; Lammi, Uki - 1999

risks shape the equilibrium entrepreneurship in an occupational choice model. Differential social insurance of … entrepreneurial and labor risk is found to be statistically significant and detrimental to entrepreneurship. The crowding-out effect … of public production of private goods on entrepreneurship dominates the crowding-in effect of public production of public …

Persistent link: https://www.econbiz.de/10011537009