This paper examines rent sharing in Private Investments in Public Equity (PIPEs) between newly public firms and private investors. The evidence suggests highly asymmetric rent sharing. Newly public firms earn a negative return of up to -15% in the first post-PIPE year, while investors benefit...

This paper examines rent sharing in Private Investments in Public Equity (PIPEs) between newly public firms and private investors. The evidence suggests highly asymmetric rent sharing. Newly public firms earn a negative return of up to -15% in the first post-PIPE year, while investors benefit...

Mergers and acquisitions (M&A) provide an important way for firms to expand technologically. In this paper, we examine how public firms listed in North American stock exchanges acquire technology companies during 2010-2020. Combining data from Compustat, CRSP, Refinitiv, and S&P on M&A, and...

Loss of control in subsidiaries as well as significant influence in associates can be voluntary or otherwise but what is certain is that there are prescribed accounting procedures which must be adhered to as dictated by relevant International Financial Reporting Standards (IFRSs) to ensure that...

It is naturally expected that a listed parent company which depends on the profits from its listed subsidiaries should mirror the activities of listed subsidiaries as far as the market share price is concerned. Persistent stunted market share price growth for a material listed subsidiary would...

Group of companies usually have significant wealth and influence in any given economy and one of the requirements to monitor their activities is through requirement to produce group accounts as dictated by statutory provisions such as the Companies Act and relevant accounting standards. This is...

While product and company reputation are among the most valued intangible assets, we have little understanding of when and why managers focus on such resources. This shortcoming has limited both the resource-based and attention-based views of the firm. We construct a novel and comprehensive...

By using the listed companies data, this paper investigates the impact of the ongoing mixed-ownership reform on the TFP of SOEs in China. Comparing with other SOEs, the TFP of pilot enterprises has been significantly improved through mixed-ownership reform. Further testing the changes in equity,...

This paper studies the connection between share pledging and entrepreneurial activities in China, challenging the common wisdom that share pledging funds circle back to the listed firms. Share pledging funds are at the discretion of the shareholders who pledge their publicly traded shares, and...

Taking advantage of the time gap between privatization and stock listing observed in the Vietnamese privatization, we extract the pure effect of privatization on firm performance and behaviors by isolating it from the stock listing effect. The results suggest that even partial privatization...