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Corporate Control And The Politics Of Finance

Citations

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Cited by:

  1. Lucian Arye Bebchuk, 2002. "Ex Ante Costs of Violating Absolute Priority in Bankruptcy," Journal of Finance, American Finance Association, vol. 57(1), pages 445-460, February.
  2. Drukarczyk, Jochen & Schöntag, Stefanie, 2006. "Insolvenzplan, optionsbasierte Lösungen, Verlustvorträge und vom Gesetzgeber verursachte Sanierungshemmnisse," University of Regensburg Working Papers in Business, Economics and Management Information Systems 414, University of Regensburg, Department of Economics.
  3. Edward I. Altman, 2007. "Global Debt Markets in 2007: New Paradigm or the Great Credit Bubble?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 19(3), pages 17-31, June.
  4. Hellwig, Martin, 1998. "On the economics and politics of corporate finance and corporate control," Papers 98-43, Sonderforschungsbreich 504.
  5. Kalay, Avner & Singhal, Rajeev & Tashjian, Elizabeth, 2007. "Is Chapter 11 costly?," Journal of Financial Economics, Elsevier, vol. 84(3), pages 772-796, June.
  6. Lucian Arye Bebchuk, 1998. "Chapter 11," NBER Working Papers 6473, National Bureau of Economic Research, Inc.
  7. Martin Schulz, 2001. "The Reform of (Corporate) Governance in Japan," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 70(4), pages 527-545.
  8. Claus Dierksmeier, 2020. "From Jensen to Jensen: Mechanistic Management Education or Humanistic Management Learning?," Journal of Business Ethics, Springer, vol. 166(1), pages 73-87, September.
  9. Renneboog, L.D.R. & Simons, T., 2005. "Public-to-Private Transactions : LBOs, MBOs, MBIs and IBOs," Other publications TiSEM 3b76799c-591c-4d22-b126-a, Tilburg University, School of Economics and Management.
  10. Ovtchinnikov, Alexei V., 2013. "Merger waves following industry deregulation," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 51-76.
  11. Hotchkiss, Edith S. & Mooradian, Robert M., 1997. "Vulture investors and the market for control of distressed firms," Journal of Financial Economics, Elsevier, vol. 43(3), pages 401-432, March.
  12. Renneboog, L.D.R. & Simons, T. & Wright, M., 2005. "Leveraged Public to Private Transactions in the UK," Discussion Paper 2005-60, Tilburg University, Center for Economic Research.
  13. Randall S. Kroszner, 1999. "Is the Financial System Politically Independent? Perspectives on the Political Economy of Banking and Financial Regulation," CRSP working papers 492, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  14. Bhattacharyya, Sugato & Singh, Rajdeep, 1999. "The resolution of bankruptcy by auction: allocating the residual right of design," Journal of Financial Economics, Elsevier, vol. 54(3), pages 269-294, December.
  15. Groh, Alexander P. & Gottschalg, Oliver, 2009. "The opportunity cost of capital of US buyouts," IESE Research Papers D/780, IESE Business School.
  16. Muurling, Rutger & Lehnert, Thorsten, 2004. "Option-based compensation: a survey," The International Journal of Accounting, Elsevier, vol. 39(4), pages 365-401.
  17. Stanley D. Longhofer & Stephen R. Peters, 2000. "Protection for whom? creditor conflicts in bankruptcy," Working Papers (Old Series) 9909R, Federal Reserve Bank of Cleveland.
  18. Hamid Mehran & Stavros Peristiani, 2010. "Financial Visibility and the Decision to Go Private," The Review of Financial Studies, Society for Financial Studies, vol. 23(2), pages 519-547, February.
  19. Bebchuk, Lucian Arye, 2000. "Using options to divide value in corporate bankruptcy," European Economic Review, Elsevier, vol. 44(4-6), pages 829-843, May.
  20. Christine Pochet, 2002. "Institutional Complementarities within Corporate Governance Systems: A Comparative Study of Bankruptcy Rules," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 6(4), pages 343-381, December.
  21. Ilona Bažantová, 2015. "The Emergence And Development Of Corporate Governance As An Economic And Institutional Phenomenon," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 9(1), pages 167-178.
  22. Lucian Arye Bebchuk, 2001. "Ex Ante Costs of Violating Absolute Priority in Bankruptcy," NBER Working Papers 8388, National Bureau of Economic Research, Inc.
  23. Steven Raymar, 1993. "The Financing And Investment Of A Levered Firm Under Asymmetric Information," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 16(4), pages 321-336, December.
  24. Karen H. Wruck, 2008. "Private Equity, Corporate Governance, and the Reinvention of the Market for Corporate Control," Journal of Applied Corporate Finance, Morgan Stanley, vol. 20(3), pages 8-21, June.
  25. Blazy, Régis & Martel, Jocelyn & Nigam, Nirjhar, 2014. "The choice between informal and formal restructuring: The case of French banks facing distressed SMEs," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 248-263.
  26. Jory, Surendranath R. & Madura, Jeff, 2009. "Acquisitions of bankrupt assets," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 748-759, August.
  27. Krishnan, Hema A. & Park, Daewoo, 2002. "The impact of work force reduction on subsequent performance in major mergers and acquisitions: an exploratory study," Journal of Business Research, Elsevier, vol. 55(4), pages 285-292, April.
  28. Chen, I-Ju & Chen, Yan-Shing & Chen, Sheng-Syan, 2018. "The strategic choice of payment method in corporate acquisitions: The role of collective bargaining against unionized workers," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 408-422.
  29. Pascal François & Alon Raviv, 2014. "Heterogeneous Beliefs and the Choice Between Private Restructuring and Formal Bankruptcy," Cahiers de recherche 1401, CIRPEE.
  30. DeAngelo, Harry & DeAngelo, Linda & Gilson, Stuart C., 1996. "Perceptions and the politics of finance: Junk bonds and the regulatory seizure of First Capital Life," Journal of Financial Economics, Elsevier, vol. 41(3), pages 475-511, July.
  31. Mike Burkart & Samuel Lee, 2008. "One Share - One Vote: the Theory," Review of Finance, European Finance Association, vol. 12(1), pages 1-49.
  32. Jang, SooCheong (Shawn), 2011. "Growth-focused or profit-focused firms: Transitions toward profitable growth," Tourism Management, Elsevier, vol. 32(3), pages 667-674.
  33. Rice, John & Raziq, Muhammad Mustafa & Martin, Nigel & Fieger, Peter & Rice, Bridget, 2023. "The debt crisis and the adoption of Asset-Light and Fee-Orientated (ALFO) arrangements at Marriott: 1980-1995," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(1), pages 58-66.
  34. Randall S. Kroszner, 1999. "Is the Financial System Politically Independent? Perspectives on the Political Economy of Banking and Financial Regulation," University of Chicago - George G. Stigler Center for Study of Economy and State 151, Chicago - Center for Study of Economy and State.
  35. John F. Crean, 2009. "Credit Risk, Default Loss, and the Economics of Bankruptcy," Working Papers tecipa-354, University of Toronto, Department of Economics.
  36. Gérard Charreaux, 2004. "Michael Jensen-la théorie positive de l’agence et ses applications à l’architecture et à la gouvernance des organisations," Working Papers CREGO 1041203, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  37. Douglas, Alan V. S., 2001. "Managerial replacement and corporate financial policy with endogenous manager-specific value," Journal of Corporate Finance, Elsevier, vol. 7(1), pages 25-52, March.
  38. Per Stromberg, "undated". "Conflicts of Interest and Market Illiquidity in Bankruptcy Auctions: Theory and Tests," CRSP working papers 459, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  39. Peter Wirtz & Bernard Laurent, 2010. "Valeurs du dirigeant, conception de la propriété et modèle de gouvernance : une illustration à travers le cas du groupe Auchan," Post-Print halshs-00746270, HAL.
  40. Mathias Arrfelt & Robert M. Wiseman & Gerry McNamara & G. Tomas M. Hult, 2015. "Examining a key corporate role: The influence of capital allocation competency on business unit performance," Strategic Management Journal, Wiley Blackwell, vol. 36(7), pages 1017-1034, July.
  41. Ouidad Yousfi, 2009. "Leveraged Buy Out: Dynamic agency model with write-off option," Working Papers hal-04140881, HAL.
  42. Rebecca Guidice & G. Alder & Steven Phelan, 2009. "Competitive Bluffing: An Examination of a Common Practice and its Relationship with Performance," Journal of Business Ethics, Springer, vol. 87(4), pages 535-553, July.
  43. Thorburn, Karin S., 2000. "Bankruptcy auctions: costs, debt recovery, and firm survival," Journal of Financial Economics, Elsevier, vol. 58(3), pages 337-368, December.
  44. Renneboog, Luc & Vansteenkiste, Cara, 2017. "Leveraged Buyouts : A Survey of the Literature," Other publications TiSEM 573ebdd5-a720-4110-8ed1-e, Tilburg University, School of Economics and Management.
  45. Carapeto, Maria, 2007. "An examination of multiple plans in Chapter 11 reorganizations," Journal of Financial Stability, Elsevier, vol. 3(3), pages 279-293, October.
  46. Franz R. Hahn, 2002. "The Politics of Financial Development. The Case of Austria," WIFO Working Papers 187, WIFO.
  47. David Hillier & Julio Pindado & Valdoceu de Queiroz & Chabela de la Torre, 2011. "The impact of country-level corporate governance on research and development," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(1), pages 76-98, January.
  48. Daniel M. Covitz & Song Han & Beth Anne Wilson, 2006. "Are longer bankruptcies really more costly?," Finance and Economics Discussion Series 2006-27, Board of Governors of the Federal Reserve System (U.S.).
  49. Eckbo, B Espen & Thorburn, Karin S, 2002. "Overbidding versus Fire-Sales in Bankruptcy Auctions," CEPR Discussion Papers 3240, C.E.P.R. Discussion Papers.
  50. Goodwin, John & Routledge, James, 2021. "Determinants of the duration of the voluntary administration process: An unconditional quantile regression analysis," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(3).
  51. Chance, Don M. & Kumar, Raman & Todd, Rebecca B., 2000. "The 'repricing' of executive stock options," Journal of Financial Economics, Elsevier, vol. 57(1), pages 129-154, July.
  52. Toru Yoshikawa & Abdul A. Rasheed & Deepak K. Datta & Joseph Rosenstein, 2006. "Financial and product market integration: Responses of Japanese firms," Management International Review, Springer, vol. 46(5), pages 529-555, September.
  53. Bigus, Jochen, 2002. "Bankruptcy law, asset substitution problem, and creditor conflicts," International Review of Law and Economics, Elsevier, vol. 22(2), pages 109-132, August.
  54. Bergman, Yaacov & Callen, Jeffrey L., 1995. "Rational deviations from absolute priority rules," International Review of Financial Analysis, Elsevier, vol. 4(1), pages 1-18.
  55. Elisabeth Kremp, 1995. "Restructurations et rentabilité économique dans l'industrie française de 1985 à 1992," Économie et Prévision, Programme National Persée, vol. 120(4), pages 29-44.
  56. Bronwyn H. Hall, 1993. "Industrial Research during the 1980s: Did the Rate of Return Fall?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(2 Microec), pages 289-343.
  57. Andrea Quintiliani, 2019. "Impact of Financial Transparency on SMEs’ Value," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 9(6), pages 1-15.
  58. Renneboog, Luc & Simons, Tomas & Wright, Mike, 2007. "Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 591-628, September.
  59. Ouidad Yousfi, 2010. "Exit routes in LBO projects," Working Papers hal-04140925, HAL.
  60. Murphy, Kevin J., 1997. "Executive compensation and the Modern Industrial Revolution1," International Journal of Industrial Organization, Elsevier, vol. 15(4), pages 417-425, July.
  61. Bock, Sebastian & Forsyth, Peter & Niemeier, Hans-Martin & Mantin, Benny, 2019. "Chapter 11 and the level playing field: Should chapter 11 be considered as a subsidy?," Journal of Air Transport Management, Elsevier, vol. 74(C), pages 39-46.
  62. Carlos Pérez Montes, 2011. "Optimal capital structure and Regulatory Control," Working Papers 1128, Banco de España.
  63. Maria Carapeto, 2006. "Explaining Deviations from Absolute Priority Rules in Bankruptcy," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 3(3), pages 543-560, November.
  64. Ouidad Yousfi, 2009. "Leveraged Buy Out: Dynamic agency model with write-off option," EconomiX Working Papers 2009-13, University of Paris Nanterre, EconomiX.
  65. Orbe Lizundia, Jesús María & Ferreira García, María Eva & Núñez Antón, Vicente Alfredo, 2001. "Analysis of Length of Time Spent in Chapter 11 Bankruptcy," BILTOKI 1134-8984, Universidad del País Vasco - Departamento de Economía Aplicada III (Econometría y Estadística).
  66. Li, Kai, 1999. "Bayesian analysis of duration models: an application to Chapter 11 bankruptcy," Economics Letters, Elsevier, vol. 63(3), pages 305-312, June.
  67. Daniela Di Cagno & Marco Spallone, 2012. "An experimental investigation on optimal bankruptcy laws," European Journal of Law and Economics, Springer, vol. 33(1), pages 205-229, February.
  68. Hellwig, Martin, 2000. "Corporate Governance and the Financing of Investment for Structural Change," Sonderforschungsbereich 504 Publications 00-32, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  69. Gennaioli, Nicola & Rossi, Stefano, 2008. "Optimal Resolutions of Financial Distress by Contract," CEI Working Paper Series 2008-6, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
  70. Berger, Philip G. & Ofek, Eli, 1995. "Diversification's effect on firm value," Journal of Financial Economics, Elsevier, vol. 37(1), pages 39-65, January.
  71. Michael J. Alderson & Brian L. Betker, "undated". "Liquidation Versus Continuation: Did Reorganized Firms Do The Right Thing?," Research in Financial Economics 9512, Ohio State University.
  72. Gregor Andrade & Steven N. Kaplan, 1997. "How Costly is Financial (not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed," NBER Working Papers 6145, National Bureau of Economic Research, Inc.
  73. Dial, Jay & Murphy, Kevin J., 1995. "Incentives, downsizing, and value creation at General Dynamics," Journal of Financial Economics, Elsevier, vol. 37(3), pages 261-314, March.
  74. Bernard Laurent & Peter Wirtz, 2013. "Founder-CEO values, the conception of ownership and governance models illustrated in a case study of Auchan," Working Papers halshs-00796728, HAL.
  75. DeAngelo, Harry & DeAngelo, Linda, 1998. "Ancient redwoods and the politics of finance: the hostile takeover of the Pacific Lumber Company," Journal of Financial Economics, Elsevier, vol. 47(1), pages 3-53, January.
  76. Bock, Sebastian & Mantin, Benny & Niemeier, Hans-Martin & Forsyth, Peter John, 2020. "Bankruptcy in international vs domestic markets: Evidence from the airline industry," Transportation Research Part A: Policy and Practice, Elsevier, vol. 132(C), pages 728-743.
  77. John C. Persons & Vincent A. Warther, "undated". "Boom and Bust Patterns in the Adoption of Financial Innovations," Research in Financial Economics 9601, Ohio State University.
  78. Alan Schwartz, "undated". "A Normative Theory of Business Bankruptcy," American Law & Economics Association Annual Meetings 1037, American Law & Economics Association.
  79. Carmen Vargas Pérez & Juan Luis Peñaloza Figueroa, 2017. "Big Data and the Demand for Court and Legal Services," European Journal of Interdisciplinary Studies Articles, Revistia Research and Publishing, vol. 3, September.
  80. Mahoney, Paul G., 1999. "The stock pools and the Securities Exchange Act," Journal of Financial Economics, Elsevier, vol. 51(3), pages 343-369, March.
  81. Andriosopoulos, Dimitris & Yang, Shuai & Li, Wei-an, 2016. "The market valuation of M&A announcements in the United Kingdom," International Review of Financial Analysis, Elsevier, vol. 48(C), pages 350-366.
  82. Alexander Dilger, 2006. "Forced to make mistakes: Reasons for complaining about Bebchuk's scheme and other market-oriented insolvency procedures," European Journal of Law and Economics, Springer, vol. 21(1), pages 79-94, January.
  83. Jennifer E. Bethel & Julia Porter Liebeskind, 1998. "Diversification and the Legal Organization of the Firm," Organization Science, INFORMS, vol. 9(1), pages 49-67, February.
  84. Randall S. Kroszner, 2000. "The economics and politics of financial modernization," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 25-37.
  85. Yasmeen Akhtar & Attiya Yasmin Javid & Tariq Abbasi, 2014. "What Determines Payment Methods and Deal Amount in Corporate Merger and Acquisitions in Pakistan," PIDE-Working Papers 2014:97, Pakistan Institute of Development Economics.
  86. Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
  87. Jay Dahya & Ronan Powell, 1998. "Ownership Structure, Managerial Turnover and Takeovers: Further U.K. Evidence on the Market for Corporate Control," Multinational Finance Journal, Multinational Finance Journal, vol. 2(1), pages 62-83, March.
  88. Araújo, Aloísio Pessoa de & Funchal, Bruno, 2005. "Past and future of the bankruptcy law in Brazil and Latin America," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 599, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
  89. Hotchkiss, Edith S. & Mooradian, Robert M., 2003. "Auctions in bankruptcy," Journal of Corporate Finance, Elsevier, vol. 9(5), pages 555-574, November.
  90. Orbe, Jesus & Ferreira, Eva & Nunez-Anton, Vicente, 2001. "Modelling the duration of firms in Chapter 11 bankruptcy using a flexible model," Economics Letters, Elsevier, vol. 71(1), pages 35-42, April.
  91. Alexander Peter Groh & Oliver Gottschalg, 2008. "The Opportunity Cost of Capital of US Buyouts," NBER Working Papers 14148, National Bureau of Economic Research, Inc.
  92. Weitzel, Utz & Kling, Gerhard, 2012. "Sold below value? Why some targets accept very low and even negative takeover premiums," MPRA Paper 42832, University Library of Munich, Germany.
  93. B. Espen Eckbo & Karin S. Thorburn, 2009. "Bankruptcy as an Auction Process: Lessons from Sweden," Journal of Applied Corporate Finance, Morgan Stanley, vol. 21(3), pages 38-52, June.
  94. Elisa Luciano & Giovanna Nicodano, 2012. "Default risk in business groups," Carlo Alberto Notebooks 283, Collegio Carlo Alberto.
  95. Denis, David J. & Serrano, Jan M., 1996. "Active investors and management turnover following unsuccessful control contests," Journal of Financial Economics, Elsevier, vol. 40(2), pages 239-266, February.
  96. Kroszner, Randall S., 1999. "Is the Financial System Politically Independent? Perspectives on the Political Economy of Banking and Financial Regulation," Working Papers 151, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
  97. Eberhart, Allan C. & Sweeney, Richard J., 1996. "A note on noise in the market for bankrupt firms' securities," Journal of Banking & Finance, Elsevier, vol. 20(2), pages 401-415, March.
  98. Denis, David J. & Denis, Diane K., 1995. "Causes of financial distress following leveraged recapitalizations," Journal of Financial Economics, Elsevier, vol. 37(2), pages 129-157, February.
  99. Hotchkiss, Edith S. & Mooradian, Robert M., 1998. "Acquisitions as a Means of Restructuring Firms in Chapter 11," Journal of Financial Intermediation, Elsevier, vol. 7(3), pages 240-262, July.
  100. Tashjian, Elizabeth & Lease, Ronald C. & McConnell, John J., 1996. "An empirical analysis of prepackaged bankruptcies," Journal of Financial Economics, Elsevier, vol. 40(1), pages 135-162, January.
  101. Stanley D. Longhofer, 1994. "Bankruptcy rules and debt contracting: on the relative efficiency of absolute priority, proportionate priority, and first-come, first-served rules," Working Papers (Old Series) 9415, Federal Reserve Bank of Cleveland.
  102. Berkovitch, Elazar & Israel, Ronen & Zender, Jaime F., 1997. "Optimal bankruptcy law and firm-specific investments," European Economic Review, Elsevier, vol. 41(3-5), pages 487-497, April.
  103. Bengt Holmstrom & Steven N. Kaplan, 2001. "Corporate Governance and Merger Activity in the U.S.: Making Sense of the 1980s and 1990s," NBER Working Papers 8220, National Bureau of Economic Research, Inc.
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