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Corporate Governance Convergence by Contract : Evidence from Cross-Border Mergers

Bris, Arturo - 2003

usually import the corporate governance system of the acquiring company. This article extends the existing literature by … evaluating the effect of changes in corporate governance induced by cross-border mergers on industry value, instead of focusing … within the industry are acquired by foreign firms coming from countries with better corporate governance. In addition, we …

Persistent link: https://www.econbiz.de/10012786863

Corporate Post-Retirement Benefit Plans and Real Investment

Bartram, Söhnke M. - 2019

This paper shows that the real investment by non-financial firms is systematically related to the size of their defined-benefit plan. In particular, these plans allow R&D-intensive firms to retain and borrow from their employees, which is attractive since they have high adjustment costs, require...

Persistent link: https://www.econbiz.de/10012905009

Corporate Post-Retirement Benefit Plans and Leverage

Bartram, Söhnke M. - 2019

corporate tax rates, as well as better funded DB plans, larger private bond market capitalization and private credit. In …

Persistent link: https://www.econbiz.de/10012905012

Patented Knowledge Capital and Implied Equity Risk Premium

Hegde, Shantaram P. - 2019

Patented knowledge capital improves transparency of research and development expenditures, converts intangible intellectual property into collateralizable and salable assets, enhances sustained competitive advantage, and lowers future financing risk and growth uncertainties. We conjecture and...

Persistent link: https://www.econbiz.de/10012905038

How Important Is Financial Risk?

Bartram, Söhnke M. - 2019

We explore the determinants of equity price risk of non-financial corporations. Operating and asset characteristics are by far the most important determinants of risk. For the median firm, financial risk accounts for only 15% of observed stock price volatility. Furthermore, financial risk has...

Persistent link: https://www.econbiz.de/10012905260

How Important are Foreign Ownership Linkages for International Stock Returns?

Bartram, Söhnke M. - 2019

We develop a simple measure of international ownership linkages and show that this measure is of similar importance as the traditional effects coming from country and industry fundamentals. International ownership linkages are not explained by omitted country/industry variations, wealth effects...

Persistent link: https://www.econbiz.de/10012905629

How Important are Foreign Ownership Linkages for International Stock Returns?

Bartram, Söhnke M. - 2019

Persistent link: https://www.econbiz.de/10012905706

Corporate Post-Retirement Benefit Plans and Leverage

Bartram, Söhnke M. - 2019

, where countries with a better rule of law, less labor market freedom and higher marginal corporate tax rates show higher …

Persistent link: https://www.econbiz.de/10012905707

How Important are Foreign Ownership Linkages for International Stock Returns?

Bartram, Söhnke M. - 2019

Persistent link: https://www.econbiz.de/10012905761

Crossing the Lines : The Conditional Relation between Exchange Rate Exposure and Stock Returns in Emerging and Developed Markets

Bartram, Söhnke M. - 2019

This paper examines the importance of exchange rate exposure in the return generating process for a large sample of non-financial firms from 37 countries. We argue that the effect of exchange rate exposure on stock returns is conditional and show evidence of a significant return impact to...

Persistent link: https://www.econbiz.de/10012905762