Finance
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Acquisitions and Technology Value Revision
(2023)Acquisition announcements coincide with upward value revisions for the target firms’ technology peers, which are not due to economic relations based on product market, supply chain, or geographical location. Such a phenomenon ... -
Which Creditors’ Rights Reforms Drive Financial Deepening and Economic Development?
(Wiley, 2017-01-19) -
Multinational Firms, Internal Capital Markets, and the Value of Global Diversification
(World Scientific Pub Co Pte Lt, 2016-06)<jats:p> Over the past 30 years, multinational firms’ investment grew four times faster than worldwide GDP. Yet the evidence on whether global diversification is valuable is inconclusive. This paper uses detailed foreign ... -
Ownership Structure, Limits to Arbitrage, and Stock Returns: Evidence from Equity Lending Markets
(Oxford University Press (OUP), 2016-12) -
M&A Deal Initiation and Managerial Motivation
(Elsevier BV, 2017-02-04)This paper contributes to our understanding of managers' motivations for initiating the sale of their company. Using a sample of 1,098 publicly-listed US target firms with completed deals, we show that deals initiated by ... -
Firm valuation from customer equity:When does itwork andwhen does it fail?
(Elsevier/Science Direct, 2016-06-08)Is customer equity a good proxy for a firm's market value? Using data from Netflix over 10 years, I provide evidence that a CLV-based customer equity model tracks market capitalization remarkably well under versatile ... -
Dissemination of Stock Recommendations and Small Investors: Who Benefits?
(2002-03)The objective of this study is to examine whether published investment advice generates higher returns for investors. We investigate the impact of security recommendations in the financial press on common stock prices in ...