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Author: Bjørn Espen Eckbo
Publisher: Academic Press
ISBN: 0123846900
Category : Business & Economics
Languages : en
Pages : 1088
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Book Description
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume two, "Bidding Strategies, Financing, and Corporate Control", focus on a range of special topics, ranging from theories and evidence on strategic bidding behavior (offer premiums, toeholds, bidder competition, winner's curse adjustments, and managerial overconfidence), issues arising when bidding for targets in bankruptcy auctions, effects of deal protection devices (termination agreements, poison pills), role of large shareholder voting in promoting takeover gains, deal financing issues (such as raising the cash used to pay for the target), managerial incentive effects of takeovers, governance spillovers from cross-border mergers, and returns to merger arbitrage. Including an index and new introduction, this volume will simplify and facilitate students' interaction with new concepts and applications. - Provides a status report about modern scientific evidence on corporate takeovers - Exposes students to new methods and empirical evidence while reading high quality primary material - Offers a concise and cost-efficient package of journal and book articles for advanced corporate finance students
Author: Bjørn Espen Eckbo
Publisher: Academic Press
ISBN: 0123846900
Category : Business & Economics
Languages : en
Pages : 1088
Get Book Here
Book Description
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume two, "Bidding Strategies, Financing, and Corporate Control", focus on a range of special topics, ranging from theories and evidence on strategic bidding behavior (offer premiums, toeholds, bidder competition, winner's curse adjustments, and managerial overconfidence), issues arising when bidding for targets in bankruptcy auctions, effects of deal protection devices (termination agreements, poison pills), role of large shareholder voting in promoting takeover gains, deal financing issues (such as raising the cash used to pay for the target), managerial incentive effects of takeovers, governance spillovers from cross-border mergers, and returns to merger arbitrage. Including an index and new introduction, this volume will simplify and facilitate students' interaction with new concepts and applications. - Provides a status report about modern scientific evidence on corporate takeovers - Exposes students to new methods and empirical evidence while reading high quality primary material - Offers a concise and cost-efficient package of journal and book articles for advanced corporate finance students
Author: Ian Ayres
Publisher: University of Chicago Press
ISBN: 0226033538
Category : Business & Economics
Languages : en
Pages : 893
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Book Description
If you're a woman and you shop for a new car, will you really get the best deal? If you're a man, will you fare better? If you're a black man waiting to receive an organ transplant, will you have to wait longer than a white man? In Pervasive Prejudice? Ian Ayres confronts these questions and more. In a series of important studies he finds overwhelming evidence that in a variety of markets—retail car sales, bail bonding, kidney transplantation, and FCC licensing—blacks and females are consistently at a disadvantage. For example, when Ayres sent out agents of different races and genders posing as potential buyers to more than 200 car dealerships in Chicago, he found that dealers regularly charged blacks and women more than they charged white men. Other tests revealed that it is commonly more difficult for blacks than whites to receive a kidney transplant because of federal regulations. Moreover, Ayres found that minority male defendants are frequently required to post higher bail bonds than their Caucasian counterparts. Traditional economic theory predicts that free markets should drive out discrimination, but Ayres's startling findings challenge that position. Along with empirical research, Ayres offers game—theoretic and other economic methodologies to show how prejudice can enter the bargaining process even when participants are supposedly acting as rational economic agents. He also responds to critics of his previously published studies included here. These studies suggest that race and gender discrimination is neither a thing of the past nor merely limited to the handful of markets that have been the traditional focus of civil rights laws.
Author: Yasheng Huang
Publisher: Cambridge University Press
ISBN: 9780521665735
Category : Business & Economics
Languages : en
Pages : 398
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Book Description
A political-economic analysis of how China has been able to avoid hyperinflation while maintaining high annual growth rates.
Author: Bjørn Espen Eckbo
Publisher: Elsevier
ISBN: 0080932118
Category : Business & Economics
Languages : en
Pages : 605
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Book Description
This second volume of a two-part series examines three major topics. First, it devotes five chapters to the classical issue of capital structure choice. Second, it focuses on the value-implications of major corporate investment and restructuring decisions, and then concludes by surveying the role of pay-for-performance type executive compensation contracts on managerial incentives and risk-taking behavior. In collaboration with the first volume, this handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work. - Nine original chapters summarize research advances and future topics in the classical issues of capital structure choice, corporate investment behavior, and firm value - Multinational comparisons underline the volume's empirical perspectives - Complements the presentation of econometric issues, banking, and capital acquisition research covered by Volume 1
Author: Julian Holler
Publisher: Springer Science & Business Media
ISBN: 3834936162
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
Hedge funds have started to play an important role in financial markets during the last decade. They have affected important aspects of financial intermediation such as asset allocation decisions and corporate governance. Julian Holler provides an excellent theoretical and empirical analysis of these issues. His analysis offers strong support that hedge funds enable investors to improve asset allocation decisions. Consequently, hedge funds are an interesting alternative asset class for institutional investors. In contrast to results for the U.S. capital market his research provides evidence that hedge fund activism does not persistently increase the value of firms in Germany. This result suggests that the institutional environment has a strong influence on the effectiveness of corporate governance mechanisms.
Author: David Hillier
Publisher: McGraw Hill
ISBN: 1526848090
Category : Business & Economics
Languages : en
Pages : 891
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Book Description
The fourth edition of Corporate Finance takes an applied approach to cover all the latest research and topic areas important to students taking Finance courses. The new edition provides an international perspective on all areas of corporate finance and has been updated to include discussion on current trends such as the rise of populism and trade barriers on international finance, the advent of Financial Technology, and key regulatory changes impacting the sector. Understanding and Application •Clear, user-friendly style •Example boxes in every chapter provide hypothetical examples to illustrate theoretical concepts such as cash flow timing, dividend smoothing and differential growth. •Real World Insight boxes use real companies like Siemens, Avast and Adidas to show how they have applied corporate finance theories and concepts to their businesses and business decisions. •Chapter links in the margin provide quick cross-referencing to show students the connections between topics. Practice and Proficiency •Mini and Practical cases present scenarios and questions to practice applying what you have learnt. •Rigorous testing: between 30 and 40 Questions and Problems per chapter are categorised by topic and level of difficulty. •Numbered maths equations and key notation boxes listing the variables and acronyms that will be encountered in each chapter, designed to encourage mastery of Maths. •Exam Questions designed to take 45 minutes and test you on material learned in a more formal exam style. •Connect® resources include algorithmic questions designed to ensure equations and calculations are not learned by rote but by thorough understanding and practice New to This Edition •Updated discussions on peer-to-peer trading, cash flow forecasting methods, import/export partners and additional investment appraisal methods •Updated chapters on corporate governance to reflect global changes, efficient markets and mergers and acquisition to reflect new research, financial distress to reflect new data with discussion on trends and insolvencies and fully updated chapter on Leasing to reflect new IFRS standards •New section on Modified Internal Rate of Return and Margin of Safety in Investment Appraisal, Net Asset Value, Islamic Financing, and alternatives to CAPM to reflect research developments • NEW: This edition has now been updated with 8 new videos that covers a worked example from the text and each video has associated concept check questions. The videos are now available on Connect® and cover: • Chapter 1 & 2: Introduction to Finance and Corporate Governance • Chapter 5: Long-Term Financing • Chapter 6: Investment Appraisal • Chapter 9 & 10: Risk and Return • Chapter 15 and 16: Equity and Debt Valuation • Chapter 20: Advanced Capital Budgeting • Chapter 21: Dividends • Chapter 22: Options David Hillier is Associate Principal and Executive Dean of the University of Strathclyde Business School. A Professor of Finance, David was recognized as being in the top 3 per cent of the most prolific finance researchers in the world over the past 50 years (Heck and Cooley, 2009) and appears regularly in the media as a business commentator.
Author: Bjørn Espen Eckbo
Publisher: Academic Press
ISBN: 0123847451
Category : Business & Economics
Languages : en
Pages : 863
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Book Description
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume one, Takeover Activity, Valuation Estimates and Merger Gains, focus on classical issues such as the existence and source of merger waves, empirical estimates of takeover announcement returns and the division of takeover gains between bidders and targets, and tests for potential sources of takeover gains (primarily involving estimation of industry wealth effects of takeovers), introducing students to modern scientific evidence about corporate takeovers. Including an index and new introduction, this volume will simplify and facilitate students' interaction with new concepts and applications. - Provides a status report about modern scientific evidence on corporate takeovers - Exposes students to new methods and empirical evidence while reading high quality primary material - Offers a concise and cost-efficient package of journal and book articles for advanced corporate finance students
Author: Han T. J. Smit
Publisher: Princeton University Press
ISBN: 0691176418
Category : Business & Economics
Languages : en
Pages : 215
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Book Description
A groundbreaking approach to mergers and acquisitions It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. Playing at Acquisitions provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments. Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts, acknowledge and even embrace uncertainty, identify the value of the real options embedded in targets, and more. Rooted in economic theory and featuring numerous real-world case studies, Playing at Acquisitions will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.
Author: Len Holm
Publisher: Routledge
ISBN: 1351376942
Category : Architecture
Languages : en
Pages : 400
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Book Description
Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs.
Author: Marek Gruszczyński
Publisher: Springer Nature
ISBN: 3030342190
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This book explores new topics in modern research on empirical corporate finance and applied accounting, especially the econometric analysis of microdata. Dubbed “financial microeconometrics” by the author, this concept unites both methodological and applied approaches. The book examines how quantitative methods can be applied in corporate finance and accounting research in order to predict companies getting into financial distress. Presented in a clear and straightforward manner, it also suggests methods for linking corporate governance to financial performance, and discusses what the determinants of accounting disclosures are. Exploring these questions by way of numerous practical examples, this book is intended for researchers, practitioners and students who are not yet familiar with the variety of approaches available for data analysis and microeconometrics. “This book on financial microeconometrics is an excellent starting point for research in corporate finance and accounting. In my view, the text is positioned between a narrative and a scientific treatise. It is based on a vast amount of literature but is not overloaded with formulae. My appreciation of financial microeconometrics has very much increased. The book is well organized and properly written. I enjoyed reading it.” Wolfgang Marty, Senior Investment Strategist, AgaNola AG
