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Chapter 1. Corporate Governance and Control

Becht, Marco; Bolton, Patrick; Röell, Ailsa - 2003

Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...

Persistent link: https://www.econbiz.de/10014023875

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

Axelson, Ulf - 2018

Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining capital structure theories. Using a large, detailed, international sample of buyouts from 1980-2008, we find that buyout leverage is unrelated to the...

Persistent link: https://www.econbiz.de/10012906811

Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts

Axelson, Ulf - 2018

Persistent link: https://www.econbiz.de/10012940639

Corporate Blockholders and Financial Leverage

Bui, Thuy - 2018

This research investigates the relationship between corporate block ownership and firm financial leverage. Corporate blockholders, which are nonfinancial firms who hold more than five percent equity in a target industrial firm, can affect the target firm's policies through their business...

Persistent link: https://www.econbiz.de/10012911552

Sustaining the Buyout Governance Model : Inside Secondary Management Buyout Boards

Jelic, Ranko - 2018

We examine the impact of private equity (PE) directors and their human capital on operating performance in a unique hand collected sample of 200 secondary management buyouts (SMBOs) during 2000-2015. We show that PE directors' human capital tends to play statistically and economically important...

Persistent link: https://www.econbiz.de/10012927568

Corporate boards and the leverage and debt maturity choices

Harford, Jarrad V. T.; Li, Kai; Zhao, Xinlei - In: International journal of corporate governance : IJCG 1 (2008) 1, pp. 3-27

Persistent link: https://www.econbiz.de/10003739282

Debt Covenants and Corporate Acquisitions

Daher, Mai - 2018

We investigate the impact of debt covenants on acquisition characteristics. We find that acquirers with covenants pay … acquirer returns around deal announcement, relative to those without. All these results are more pronounced with stricter debt … restrict debt issuance, are positively related to the share fraction, while performance covenants, which affect the stock of …

Persistent link: https://www.econbiz.de/10012908566

Corporate Financial and Investment Policies in the Presence of a Blockholder on the Board

Agrawal, Anup - 2018

We examine the relation between the presence of an independent director who is a blockholder (IDB) and corporate policies, risk-taking and market valuation. After accounting for endogeneity, firms with an IDB have significantly (1) lower levels of cash holdings, payout and R&D expenditures, (2)...

Persistent link: https://www.econbiz.de/10012940509

Do Friendly Boards Have an Influence on Corporate Financing Policy? Evidence from French-Listed Firms

Van Appelghem, Cedric - 2017

The paper empirically investigates the association between friendly boards and corporate financing policy. A friendly …

Persistent link: https://www.econbiz.de/10012967527

How Do Board Reforms Affect Debt Financing Costs around the World?

Lin, Chen - 2020

In this study, we examine the effect of worldwide board reforms on the cost of debt financing. We find an overall … of CEO and chairman lead to the increase of debt costs, whereas the component to improve audit committee independence … help decrease debt costs …

Persistent link: https://www.econbiz.de/10012843957

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