We examine the relationship between management ownership and compensation for a sample of savings and loan associations which have recently converted to stock organizations. Previous expense preference literature has indicated that the stock form of organization lessens the potential for...

Insider ownership and antitakeover provisions both affect a firm's vulnerability to takeover, its value, and its managers' incentives and utility. We examine the simultaneous determination of insider ownership and takeover protection using data from mutual savings and loan associations...

In this research we provide evidence on small firm owners' attitudes and approaches to capital acquisition. The most surprising finding is their general dissatisfaction with the capital acquisition process. Yet we found no evidence that this dissatisfaction translates into poor performance. Our...

In this paper we present the results of a regional survey of small business entrepreneurs that asked about the use of and motivation for bootstrap financing -- employing resources other than traditional financing to fund operations. Extending the work of Winborg and Landstrom (2000) our results...

We examine the long-term performance and characteristics of firms that went public from 1981 to 2005. We find that long-run returns declined and the proportion of failed and failing firms increased with underwriter reputation. The IPOs marketed by the more reputable underwriters were more likely...