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Corwin v. KKR, one of many recent cases aiming to mitigate the “deal tax” in M&A represented by baseless litigation, is considered one of the most important corporate law decisions of the 2000s. Corwin shields directors from the enhanced scrutiny of Revlon in favor of the business judgment...
Persistent link: https://www.econbiz.de/10012829983
This study investigates whether conference calls accompanying M&A announcements in Europe provide valuable information for capital market participants and hence induce an abnormal stock price revaluation on the bidder’s equity. Based on handpicked data for transactions between 2008 and 2012 we...
Persistent link: https://www.econbiz.de/10011848217
On November 14th, 2014, SUERF – The European Money and Finance Forum – and CNMV, Comisión Nacional del Mercado de Valores – the Spanish Authority for supervision of securities markets – jointly organized a conference in Madrid: Challenges in Securities Markets Regulation: Investor...
Persistent link: https://www.econbiz.de/10011712118
Do shareholder protection laws affect the corporate cost of capital? To identify the causal impact of shareholder protection laws on firms’ implied cost of capital, we exploit the staggered adoption across 23 U.S. states of universal demand (UD) laws, which place significant obstacles to...
Persistent link: https://www.econbiz.de/10014133211
This paper is the first long-run historical analysis of stock market development and minority shareholder protection in France (1852-2007). For this purpose, we constructed a unique time series of shareholder protection indices (anti-director rights and securities law) and relied on triangulated...
Persistent link: https://www.econbiz.de/10013149596
Persistent link: https://www.econbiz.de/10010512584
Crowdfunding occupies a hybrid regulatory space. Directed to “public investors,” it receives an exemption from … crowdfunding offering. Pricing disclosure in “public offerings” is prospectus boilerplate, giving little clue about the behind … negotiations with the issuer. In an online crowdfunding, neither small investors nor small issuers will know the valuation …
Persistent link: https://www.econbiz.de/10013084092
Persistent link: https://www.econbiz.de/10013066322
This paper discusses the applicability and readiness of crowdfunding in Turkey. Crowdfunding is an alternative … raising methods are needed for starters. This paper analyses the current conditions for crowdfunding as an alternative … proposes some policies for potential crowdfunding applications in Turkey. Preliminary findings of this research indicate that …
Persistent link: https://www.econbiz.de/10012979999
Using Kickstarter, the largest global reward-based crowdfunding platform, we conduct an exhaustive search of all fraud … late and visible suspension of a crowdfunding campaign tend to have a lower probability of success, fewer backers, and … fraudsters in crowdfunding markets. We find fraudsters are less likely to have engaged in prior crowdfunding activities, are less …
Persistent link: https://www.econbiz.de/10012855212