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Public Debt Market Access and Corporate Investment

Vasconcelos, Manuel - 2012

I show that access to the public debt market is associated with a significant reduction in the level of capital expenditures and takeovers, especially for firms with higher credit risk. Firms accessing the bond market also become less likely to violate debt covenants, reduce the level of payouts...

Persistent link: https://www.econbiz.de/10013114349

Corporate Investment and Stock Market Listing : A Puzzle?

Asker, John - 2013

We document sizeable and surprising differences in investment behavior between stock market listed and privately held … responsive to changes in investment opportunities compared to matched private firms, even during the recent financial crisis … that investment behavior diverges most strongly in industries in which stock prices are particularly sensitive to current …

Persistent link: https://www.econbiz.de/10013091989

Seasoned Equity Offerings, Corporate Governance, and Investments

Kim, E. Han - 2013

We find weak governance is a primary reason investors react negatively to the announcement of seasoned equity offerings (SEOs). Using a difference-in-differences approach, we find investors worry about non-productive use of SEO proceeds when external pressure for good governance lifts due to an...

Persistent link: https://www.econbiz.de/10013093525

Employees’ Investment Behavior in a Company Based Savings Plan

Aubert, Nicolas S. - 2013

This paper investigates the investment behaviors of 44,649 employees working in a CAC 40 index listed company. The … selected and number of asset categories selected. We document extreme saving strategies such as high investment in company … within the plan. Our results emphasize how several proxies of human capital are associated with company-based investment …

Persistent link: https://www.econbiz.de/10013093666

The Real Effects of Foreign Investment : Productivity and Growth

Petkova, Neviana - 2012

This paper studies the direct effect of foreign investment on target firm operating performance and growth. Foreign … investment into foreign direct investment and foreign institutional investment reveals that the results are attributable to … institutional investment. The effect is attenuated under weak corporate governance conditions, with foreign investment in business …

Persistent link: https://www.econbiz.de/10013096648

Fishing Among Sharks – GP-LP Investment Syndication in Later-stage Venture Capital

Achleitner, Ann‐Kristin; Braun, Reiner; Keppler, Henry - 2021

, while LPs wish to play a more passive role. More broadly, we find that the investment context, particularly the target …

Persistent link: https://www.econbiz.de/10013230682

Corporate Governance, Capital Structure, and Investment : Evidence from a Natural Experiment

Chopra, Yakshup - 2023

How does improvement in corporate governance impact firms' financing policies and investment behavior? Using a reform …

Persistent link: https://www.econbiz.de/10014256902

Private Equity Economics : Compensation and Growth Dynamics

Lim, Wayne - 2022

This paper investigates the compensation and growth dynamics of private equity firms. Using proprietary data, I estimate that about half of their revenue is performance-related and find that current fund performance also has indirect effects on firms’ future revenue. The dynamics of these...

Persistent link: https://www.econbiz.de/10013405195

Creditor Rights, Corporate Leverage and Investments, and the Firm Type

Canipek, Aras; Kind, Axel H.; Wende, Sabine - 2021

Stronger creditor rights reduce credit costs and thus may allow firms to increase leverage and investments, but also increase distress costs and thus may prompt firms to lower leverage and undertake risk-reducing but unprofitable investments. Using a German bankruptcy law reform, on average, we...

Persistent link: https://www.econbiz.de/10013222495

Cash Stockpiles and Investment : Do Cash-Rich Firms Use Cash in Acquisitions?

Pinkowitz, Lee - 2012

U.S. firms are hoarding a $2 trillion cash stockpile which many believe will spur acquisition activity. In light of this fact, we examine whether cash-rich firms actually use their cash when making acquisitions. Surprisingly, we show that firms in the top third of cash holdings are 45% more...

Persistent link: https://www.econbiz.de/10013115073