Download or read book Essays on Corporate Control Transactions written by Kai Chen and published by ProQuest. This book was released on 2000 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Corporate Transactions written by Julian Gabler and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Corporate Equity Transactions PHD written by Clifford Paul Stephens and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on business valuation in M A transactions written by Yassin Hankir and published by . This book was released on 2009 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Corporate Equity Transactions written by James David Kelly and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Corporate Takeovers written by Edward Podolski-Boczar and published by . This book was released on 2013 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this thesis is to examine the consequences of corporate takeovers on three distinct markets; namely, the equity market, the bonds market, and the options market. Corporate takeovers are some of the most significant corporate transactions that firms undertake in any given year, both in terms of size and strategic importance. As a consequence of their economic significance, takeovers have the potential to influence all corporate stakeholders. The existing literature on corporate takeovers, however, predominantly concentrates on the consequences for equity holders. This thesis expands this analysis to both the bonds market and the options market, on top of examining what effect cultural factors have on the equity markets response to takeovers. In addition to filling this gap in the literature, the thesis also deals with the question of the role of culture in corporate takeovers. The thesis consists of three distinct essays, with each essay concentrating on the link between corporate takeovers and a specific market. In essay 1, the link between religion-induced social norms and acquiring firm shareholder wealth is considered. Consistent with academic consensus across the sociology and religion studies fields, the prevalent religion of a geographic region is used as a proxy of attitudes towards change and diversity. Social identity theory postulates that both employees and top managers will be influenced by the prevailing attitudes, which can have significant economic consequences. The empirical analysis reveals that, indeed, acquirers located in more progressive regions where attitudes towards change are more positive tend to pursue takeovers which generate greater synergies and create more wealth for their shareholders. The observation that religion induced social norms influence synergy creation and wealth consequences for acquiring firm shareholders is significant, as it suggests that approaches beyond pure rational wealth maximization influence corporate decision making. The second essay considers the link between acquiring firm cash holdings and post takeover announcement bond returns. Examining this link in the context of corporate takeovers is significant, as it overcomes potential endogeneity problems stemming from reverse causality, but also sheds some light on the factors which affect bondholder response to takeovers. The essay considers the link between cash reserves and bondholder post-announcement returns, and whether shareholder power enhances the bond markets views of takeovers or not. The empirical analysis reveals that cash rich acquirers are viewed more negatively by acquirers than cash strapped acquirers. Furthermore, the negative effect that large cash reserves have on bondholder response to takeovers is exacerbated when shareholder oversight is weak. Consistent with the extant literature, these results are interpreted as showing that bondholders, like shareholders, are skeptical of the business decisions made by cash rich firms. Finally, the third essay considers whether the options market is an attractive trading venue for privately informed investors prior to takeover announcements, and whether the threat of a SEC investigation discourages trading in the options market. Corporate takeovers are an ideal setting to study the trading behavior of informed investors due to the inherently large information asymmetry between privately and publically informed investors, and due to the exceptionally large profits that these events offer. The options market is unique, in that it offers much higher potential profits but also a much higher probability of detection - anti-insider trading laws are therefore expected to be considerably more effective. The empirical analysis reveals that informed investors find the options market attractive prior to takeovers. Nevertheless, when the SEC is more likely to detect the informed trading activity, informed traders migrate to the equity market.

Download or read book Essays on the law and economics of related party transactions in corporate governance written by Alperen Afşin Gözlügöl and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Top Management and Corporate Behavior written by Hui-Ting Wu and published by Rozenberg Publishers. This book was released on 2010 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book How to Write Successful Business and Management Essays written by Patrick Tissington and published by SAGE. This book was released on 2009-07-09 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electronic Inspection Copy available for instructors here How to Write Successful Business and Management Essays is a systematic guide to successfully producing written work for business and management degrees. The authors address the all too common pitfalls of essay assignments, as well as providing students with a step-by-step programme to approach essay questions, both in coursework and exam contexts. Starting with the basics this book helps develop skills through the use of examples, exercises and checklists. Helpful features include: Annotated essay examples, showing both good and bad points Tips on time management and motivation, note taking and effective reading Final checklists to use before you hand in Explanation of what the markers are looking for – and how to give it to them. Many students find referencing particularly confusing so the book provides detailed but easy-to-use information on what referencing is and how to do it properly. SAGE Study Skills are essential study guides for students of all levels. From how to write great essays and succeeding at university, to writing your undergraduate dissertation and doing postgraduate research, SAGE Study Skills help you get the best from your time at university. Visit the SAGE Study Skills website for tips, quizzes and videos on study success!

Download or read book Essays in Financial Economics written by Daniela Schoch and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Corporate Finance written by Rachel E. Gordon and published by . This book was released on 2015 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of one chapter studying the information possessed by outside directors before mergers and two chapters related to firms and their advisor relationships. The three essays in my dissertation explore various areas of corporate finance. My first paper titled "Are they in the know? Assessing outside director private information in M&A" examines trades by acquirer outside directors to test whether these directors are informed about upcoming mergers and whether they trade on this information for personal gain. Empirical evidence provides strong support of these hypotheses. Opportunistic trading in pre-merger months by outside directors is associated with the likelihood of a merger announcement and these trades appear correlated with deal quality. Outside directors sell shares before less valuable deals and purchase shares before more value-enhancing ones, suggesting that outside directors use their private information in self-serving ways. This relationship appears to be concentrated in harder to value firms and intensifies when a greater number of outside directors on the board trade in the same direction. Furthermore, there is evidence that this behavior occurs in firms with high levels of CEO power signifying that underlying agency problems may exist for some of these firms. The second essay titled "Why hire your rival? The case of bank debt underwriting," with David Becher and Jennifer Juergens, explores the previously undocumented debt underwriting relationship for financial firms. These firms are unique in that they are the only firms both able and capable of underwriting their own securities issuances. We find, however, that publicly traded investment and commercial banks ("banks") hire a rival in nearly 30% of all their debt issuances from 1979-2014. Further, the use of rivals is not limited to small, low ranked, or commercial banks as large, high quality, or investment banks also tend to engage rivals.Traditional (bank expertise and information sharing) as well as bank-specific (capacity constraints and limited distribution networks) motivations help explain why banks hire a rival. Evidence also suggests that the decision to use a rival to underwrite debt offerings affects fees. Collectively, these results expand our understanding of banks' underwriter choice and show that despite the potential costs, banks pervasively hire their rivals. The last essay titled "Are firm-advisor relationships valuable? A long-term perspective," with David Becher and Jennifer Juergens, examines long-term firm-advisor relations using an extended history of debt, equity, and merger transactions. Hard-to-value firms are more likely to maintain dedicated advisor relations (underwriters or merger advisors). Firms that retain predominantly one advisor over their entire transaction history pay higher underwriting/advisory fees, have inferior deal terms, and have lower analyst coverage relative to those that employ many advisors. When we condition on a firm's information environment as a catalyst for longterm advisor retention, riskier firms obtain better terms when they utilize a variety of advisors, but informationally-opaque firms do not. Our results suggest that only some firms benefit from long-term advisor retention.

Download or read book The Complete Works of Thorstein Veblen Economics Books Business Essays Political Articles written by Thorstein Veblen and published by Good Press. This book was released on 2023-11-20 with total page 2587 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thorstein Veblen, a prominent economist and social critic, explores the intersection of economics, business, and politics in his comprehensive collection of works. Veblen's writing style is characterized by its sharp wit, keen observations, and controversial analyses of societal structures. His groundbreaking concepts, such as 'conspicuous consumption' and 'the leisure class,' challenge traditional economic theories and remain relevant in today's capitalist society. Veblen's works provide a fascinating insight into the dynamics of capitalism and the influence of social status on economic behavior. This collection is a must-read for anyone interested in understanding the complexities of modern economic systems.Thorstein Veblen's unique background as both an economist and a sociologist informs his writing, allowing him to offer a multifaceted perspective on the relationship between economic and social forces. His critical examination of the capitalist system reflects his belief in the need for reform and societal change. Veblen's experiences working in academia and consulting for various industries provide him with a nuanced understanding of the business world, which is evident in his insightful essays.I highly recommend 'The Complete Works of Thorstein Veblen' to readers seeking to deepen their knowledge of economic theory and its implications for society. Veblen's thought-provoking ideas and brilliant analysis make this collection a valuable resource for students, scholars, and anyone interested in exploring the complexities of modern capitalism.

Download or read book The Essays of Warren Buffett written by Lawrence A. Cunningham and published by Carolina Academic Press. This book was released on 2013-03-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the third edition of this international best seller, Lawrence Cunningham brings you the latest wisdom from Warren Buffett’s annual letters to Berkshire Hathaway shareholders. New material addresses: the financial crisis and its continuing implications for investors, managers and society; the housing bubble at the bottom of that crisis; the debt and derivatives excesses that fueled the crisis and how to deal with them; controlling risk and protecting reputation in corporate governance; Berkshire’s acquisition and operation of Burlington Northern Santa Fe; the role of oversight in heavily regulated industries; investment possibilities today; and weaknesses of popular option valuation models. Some other material has been rearranged to deepen the themes and lessons that the collection has always produced: Buffett’s “owner-related business principles” are in the prologue as a separate subject and valuation and accounting topics are spread over four instead of two sections and reordered to sharpen their payoff. Media coverage is available at the following links: Interviews/Podcasts: Motley Fool, click here. Money, Riches and Wealth, click here. Manual of Ideas, click here. Corporate Counsel, click here. Reviews: William J. Taylor, ABA Banking Journal, click here. Bob Morris, Blogging on Business, click here. Pamela Holmes, Saturday Evening Post, click here. Kevin M. LaCroix, D&O Diary, click here. Blog Posts: On Finance issues (Columbia University), click here. On Berkshire post-Buffett (Manual of Ideas), click here. On Publishing the book (Value Walk), click here. On Governance issues (Harvard University blog), click here. Featured Stories/Recommended Reading: Motley Fool, click here. Stock Market Blog, click here. Motley Fool Interviews with LAC at Berkshire's 2013 Annual Meeting Berkshire Businesses: Vastly Different, Same DNA, click here. Is Berkshire's Fat Wallet an Enemy to Its Success?, click here. Post-Buffett Berkshire: Same Question, Same Answer, click here. How a Disciplined Value Approach Works Across the Decades, click here. Through the Years: Constant Themes in Buffett's Letters, click here. Buffett's Single Greatest Accomplishment, click here. Where Buffett Is Finding Moats These Days, click here. How Buffett Has Changed Through the Years, click here. Speculating on Buffett's Next Acquisition, click here. Buffett Says “Chief Risk Officers” Are a Terrible Mistake, click here. Berkshire Without Buffett, click here.

Download or read book Three Essays on Corporate Innovation and Shareholder Activism written by Yifei Zhang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first chapter studies whether and how corporate venture capital (CVC) spurs changes in firm scope. Using two sets of firm scope metrics, a text-based emerging business measure and Compustat segment measures, I document that CVC investments are strongly associated with subsequent firm scope changes of the CVC corporate parent, including seeding emerging businesses, establishing new divisions, terminating obsolete divisions, and changing the primary industry. Further evidence is consistent with an experimentation view of CVC investments, with more promising ventures having a stronger impact on scope changes of parent firms. Finally, to sharpen the causality, I explore idiosyncratic fund inflow shocks of those connected independent VCs for each CVC program, as well as the US non-stop airline routes.In the second chapter, we investigate the impact of hedge fund activism on corporate transaction markets. We find that activism targets as well as firms exposed to hedge fund threats receive more merger bids, increase divestitures and make fewer acquisitions, with the acquisition effect concentrated among large firms. We document that the majority of activist campaigns are clustered by industry, and estimate that the simultaneous increase in asset sales and decrease in acquisitions in such activism clusters reduce real asset liquidity for asset sellers by about 35%. The liquidity squeeze produces two effects: transaction prices are reduced, and industry outsiders provide liquidity by purchasing more industry assets. Looking at short-term price pressure and long-run performance, we present evidence that transactions by activist targets are less affected by the reduced asset liquidity than those of other firms.The third chapter investigates which kind of targeted firms benefit the most from hedge fund activism campaigns. I first document that ex-ante better governance firms experience larger value and performance improvements after activism campaigns. Moreover, good governance firms operating in relatively competitive industries benefit the most from hedge fund activism campaigns among all targeted firms. Both results are counter-intuitive since ex-ante good governance firms operating in relatively competitive industries should suffer the least from agency costs and have already operated on the industry efficiency frontier. As a result, further value improvements should be minimal. I provide a new explanation for the puzzling results through the success likelihood of activist campaigns and value improvement conditional on campaign success.

Download or read book The Essays of Warren Buffett written by Warren Buffett and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The year 2015 marks the fiftieth anniversary of Berkshire Hathaway under Warren Buffett's leadership, a milestone worth commemorating. The tenure sets a record for chief executive not only in duration but in value creation and philosophizing. The fourth edition of The Essays of Warren Buffett: Lessons for Corporate America celebrates its twentieth anniversary. As the book Buffett autographs most, its popularity and longevity attest to the widespread appetite for this unique compilation of Buffett's thoughts that is at once comprehensive, non-repetitive, and digestible. New and experienced readers alike will gain an invaluable informal education by perusing this classic arrangement of Warren's best writings. The fourth edition's new material includes: Warren's 50th anniversary retrospective, in what Bill Gates called Warren's best letter ever, on conglomerates and Berkshire's future without Buffett; Charlie Munger's 50th anniversary essay on "The Berkshire System"; Warren's definitive defense of Berkshire's no-dividend practice; and Warren's best advice on investing, whether in apartments, farms, or businesses. "Larry Cunningham has done a great job at collating our philosophy." -- Warren Buffett "Larry Cunningham takes Buffett's brilliant letters to a still-higher level by organizing them into single-subject chapters. The book begins, moreover, with an excellent introduction by Larry." -- Carol Loomis "This is a very important book. I recommend it to everyone who is interested in learning about investing, corporate governance, and business judgement." -- Bill Ackman "The book on Buffett--a superb job." -- Forbes "Extraordinary--full of wisdom, humor, and common sense." -- Money "A classic on value investing and the definitive source on Buffett." -- Financial Times "Cunningham has done a truly commendable job distilling and organizing the essence of Buffett's letter to Berkshire shareholders...While the essays reviewed in the latest edition of this volume range across a broad assortment of topics, for most readers the most valuable part of this book will be Buffett's lessons and insights on investing. It is extraordinarily rewarding to be able to survey the accumulated wisdom of one of the world's most successful investors." -- Kevin M. LaCroix, The D&O Diary

Download or read book International and Comparative Secured Transactions Law written by Spyridon V Bazinas and published by Bloomsbury Publishing. This book was released on 2017-10-19 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: The law of secured transactions has seen dramatic changes in the last decade. International organisations, particularly the United Nations Commission on International Trade Law (UNCITRAL), have been working towards the creation of international legal standards aimed at the modernisation and harmonisation of secured financing laws (eg, the United Nations Convention on the Assignment of Receivables in International Trade, the UNCITRAL Legislative Guide on Secured Transactions and its Intellectual Property Supplement, the UNCITRAL Guide on the Implementation of a Security Rights Registry and the UNCITRAL Model Law on Secured Transactions). The overall theme of this book is international (or cross-border) secured transactions law. It assembles contributions from some of the most authoritative academic voices on secured financing law. This publication will be of interest to those involved in secured transactions around the world, including policy-makers, practitioners, judges, arbitrators and academics.

Download or read book Essays in Honor of Professor Stephen T Zamora written by Alfonso Lopez de la Osa Escribano and published by Arte Publico Press. This book was released on 2022-04-30 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of Stephen T. Zamora’s former students entered law school with little idea about his future direction. He was fortunate to have a class on contracts with Zamora, Sten Gustafson writes, because “after that first year with him, my path became clear.” The professor made a topic intriguing that could easily be esoteric and tedious, and “opened my eyes to a career path that I could not have imagined otherwise.” This collection of 19 academic essays honors the memory of Dr. Stephen T. Zamora, the Leonard B. Rosenberg Professor of Law at the University of Houston Law Center, who died unexpectedly in 2016. An international authority in the field, Zamora’s areas of expertise were international trade and investments, international banking, conflicts of laws, international economic relations, Mexican law and US-Mexico relations. In addition, he was the driving force behind the establishment of the Center for U.S. and Mexican Law, the only one of its kind at a US law school. Written by colleagues and friends, the scholarly articles included in this volume reflect Zamora’s commitment to Mexican law, education and the promotion of US-Mexico cooperation. Topics such as regulating lawyers and legal education, environmental issues and dispute settlement are covered, and articles include “Economic Sovereignty and Oil and Gas Law,” “What Should Immigration Law Become?” and “Freer Trade between the United States and the European Union?” Through this collection, Zamora’s contemporaries aim to expand his legacy and continue his life-long work as an educator, attorney and uniter of peoples.