Similar Search Results

"Excess Volatility" and the German Stock Market, 1870-1990

Long, J. Bradford De; Becht, Marco - EconWPA - 1995

This paper uses long-run real price and dividends series to investigate for the German stock market the questions asked of the U.S. market by Shiller (1989). It tries to determine in what periods and to what degree the Germanstock market has also possessed "excess volatility" over the past...

Persistent link: https://www.econbiz.de/10005408396

Analysis of UAE Bank Stocks

Rao, Ananth - EconWPA - 2003

Listing of stocks on the stock exchange offers business firms several advantages such as diversification, liquidity, establishing a value for the firm etc. The present paper analyses stocks of six commercial banks (viz., Dubai Commercial Bank, Emirates Bank International, National Bank of Dubai,...

Persistent link: https://www.econbiz.de/10005413135

Initiative, Incentives and Soft Information. How Does Delegation Impact The Role of Bank Relationship Managers?

Liberti, Jose Maria - EconWPA - 2004

This paper empirically examines how changes in the hierarchical structure of a large organization can affect incentives. The empirical analysis exploits a change in the hierarchical structure of the Corporate Division of a private foreign commercial bank in Argentina between 1999 and 2001. Using...

Persistent link: https://www.econbiz.de/10005077034

Wealth Effects of Banks' Rights to Market and Originate Annuities

Cowan, Arnold R.; Howell, Jann C.; Power, Mark L. - EconWPA - 2002

We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross-sectionally, smaller, riskier insurers with higher...

Persistent link: https://www.econbiz.de/10005561610

INNOVATION AND VENTURE CAPITAL EXITS

SCHWIENBACHER, Armin - EconWPA - 2001

capitalist. The entrepreneur has incentives to distort the innovation strategy so as to make an IPO the preferred exit. We derive …

Persistent link: https://www.econbiz.de/10005413189

A Note on Firms' Strategic Behaviour During an IPO

Weiss, Pia - EconWPA - 2002

by an IPO and operating under less favourable business conditions have a strong incentive to appear more successful. …

Persistent link: https://www.econbiz.de/10005077052

Prices and the Winner's Curse

Bulow, Jeremy; Klemperer, Paul - EconWPA - 1999

We usually assume increases in supply, allocation by rationing, and exclusion of potential buyers will never raise prices. But all of these activities raise the expected price in an important set of cases when common-value assets are sold. Furthermore, when we make the assumptions needed to rule...

Persistent link: https://www.econbiz.de/10005118642

IPOs, Trade Sales and Liquidations: Modelling Venture Capital Exits Using Survival Analysis

Giot, Pierre; Schwienbacher, Armin - EconWPA - 2003

Using a detailed sample made up of more than 20,000 investment rounds, we analyze the time to ‘IPO’, ‘trade sale’ and … firms have the fastest IPO exits. Internet firms are also the fastest to liquidate, while biotech firms are however the …-backed firms first exhibit an increased likelihood of exiting to an IPO. However, after having reached a plateau, investments that …

Persistent link: https://www.econbiz.de/10005134683

DO MARKET LISTING AND SIZE ENTAIL BEHAVIOURAL DIFFERENCES?

BELLETANTE, Bernard; PARANQUE, Bernard - EconWPA - 2000

It is possible to study companies according to their methods of gaining access to finance, and in particular the stock market. Two approaches are possible. The first looks at the organisation of such access through the relationships built up by the company with suppliers of capital, enabling the...

Persistent link: https://www.econbiz.de/10005134889

Corporate Governance and Management Succession in Family Businesses

Phan, Phillip; Butler, John E.; Lee, Soo Hoon - EconWPA - 2005

Family businesses carry the weight of economic wealth creation in most economies. In the U.S. alone, family businesses account for 80 to 90 percent of the 18-million business enterprises in the United States, and 50 percent of the employment and GNP. In many ways, the family business is...

Persistent link: https://www.econbiz.de/10005412922