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Dynamic Adverse Selection and Debt

Faure-Grimaud, Antoine; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2001

Persistent link: https://www.econbiz.de/10010708865

Cognitive and behavioral bias of CEOs in the merger and acquisition process: an overview of existing theory

Barabel, Michel - Université Paris-Dauphine (Paris IX) - 2001

Persistent link: https://www.econbiz.de/10010861636

Ownership, control and market liquidity

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX)

We examine how ownership concentration and the separation of ownership and control affect market liquidity in France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. Different methods of concentrating control affect liquidity in different ways. Pyramid...

Persistent link: https://www.econbiz.de/10010706821

Hold-Up, Stakeholders and Takeover Threats

Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2005

We analyze the impact of takeover threats on long term relationships between the target owners and other stakeholders …’ incentive to invest. The threat of a takeover that would transfer value from the stakeholders reduces their ex ante investment …. However, the stakeholders may appropriate ex post some value created by a takeover. This can prevent some value …

Persistent link: https://www.econbiz.de/10010707320

La répartition des droits de vote, leur exercice et l’efficacité économique

Hamon, Jacques - Université Paris-Dauphine (Paris IX) - 2001

This paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems in Europe. One share-one vote encourages the selection of an efficient management team. Families are the...

Persistent link: https://www.econbiz.de/10010707890

Privatization and governance regulation in frontier emerging markets: The case of Romania

Pop, Diana; Pop, Adrian; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2010

takeover bids; and (iii) the stock liquidity is low. …

Persistent link: https://www.econbiz.de/10010708206

Ownership, control and market liquidity

Hamon, Jacques; Ginglinger, Edith - Université Paris-Dauphine (Paris IX) - 2012

We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in France. We find that firms with a large insider blockholder exhibit significantly lower liquidity. However, different methods of enhancing control affect liquidity in different...

Persistent link: https://www.econbiz.de/10010708299

Biais cognitifs du dirigeant, conséquences et facteurs de renforcement lors de fusions-acquisitions : synthèses et illustrations

Meier, Olivier; Barabel, Michel - Université Paris-Dauphine (Paris IX) - 2002

Persistent link: https://www.econbiz.de/10010708631

Takeovers and the dynamics of information flows

Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2004

This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business … surplus from the buyer. The possibility of a takeover that leaves the buyer with a higher (lower) rent than the incumbent … on the performance of takeover targets and trade credit. …

Persistent link: https://www.econbiz.de/10010709026

An Analysis of Shareholder Agreements

Ljungqvist, Alexander; Habib, Michel Antoine; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2007

Shareholder agreements govern the relations among shareholders in privately held firms, such as joint ventures and venture capital-backed companies. We provide an economic explanation for key clauses in such agreements—namely, put and call options, tag-along and drag-along rights, demand and...

Persistent link: https://www.econbiz.de/10011072263