In this paper we try to find out the impact of a carve-out on the standard deviation of earning per share (EPS) forecast (divergence of belief) and the number of analysts following the firm. We were expecting that the standard deviation of EPS forecast will decrease after the carve out as more...

Corporate divestments on the stock markets have been studied since long, but the main focus of previous studies has been the firm level impact of divestments. We take this discussion to the industry level and argue that divestments, on average, are carried out in industries, where opportunities...

Dividends, particularly of acquiring firms are influenced by several structural adjustments especially after mergers. Using the dividend clientele hypothesis, we hypothesize that acquirer dividend policy is more likely to change after the merger if dividend policies of firms involved in a...

Analysis of the causes of failure has often been shallow. This paper proposes an explanation as to why some mergers fail to achieve, based on the comparison between merging firms' specifics. We argue that cancellation may stem from dividend policy dissimilarity between the acquirer and the...

Various studies have analyzed the main determinants of payment method in M&As since the 1980s. We examine how relative the existing dividend policy of the acquirer affects the choice of the payment method. Based on the contingent-pricing effect of stock offer, we hypothesize that the likelihood...

Various studies have analyzed the main determinants of payment method in M&As since the 1980s. We survey 2,260 US acquisitions to determine how relative the existing dividend policy of the acquirer affects the choice of the payment method. Based on the contingent-pricing effect of stock offer,...

The paper considers direct and indirect impacts of bank concentration, property rights and financial freedom on corporate leverage in 12 Asian developing countries from 2000 to 2013. Our result shows that bank concentration has a directly negative relationship with leverage in these countries...

The paper finds that the debt deficit and window of opportunities significantly affect firms' financing decisions in developing Asia. Firms tend to increase the probability of issuing pure debt rather than other financing sources if room to the optimal level of debt is still available. While an...

This chapter presents research findings on the structure and role of underwriter syndicates in the initial public offering (IPO) process, thereby extending the list of participants beyond the lead underwriter. Although research has extensively examined the lead underwriter role, our objective is...

According to Kremp and Sevestre (2013), French firms did not suffer from credit restriction during the period 2004-2010. This study seeks to identify the benefits of bank-firm relationships when credit is unconstrained. By using a unique set of data collected from a French relationship bank...