We examine the announcement returns of acquisitions made by Indian firms during the period 1995–2011. Our results confirm that the announcement returns to Indian acquirers are on average significantly positive. However, we are first to document that the announcement returns to Indian acquirers...

We study the conflict of interests between the limited partners (LPs) and the general partner (GP) in a venture capital (VC) fund with a limited life span. LPs commit money, while the GP selects and monitors projects. Midway into the project, the GP privately observes the project’s quality and...

This paper studies entrepreneurs' choice of investors, who must provide financial capital and effort for projects with externalities. Investors compete to finance the projects by offering monetary investment in return for share in the project. Investors' non-monetary contribution to the project...

This paper studies how strategic interaction between players can influence their decisions as to whether to acquire information and whether to reveal their private information to others. We show how a player can increase his utility by disclosing part of his private information, when such...

This paper studies how externalities between projects affect investment decisions and investor involvement with the companies they invest in. Entrepreneurs select investors for their projects, choosing between venture capitalists and individual quot;angelquot; investors. In industries with high...

The objective of this paper is to study empirically how post-acquisition decisions and learning from previous acquisition experience affect the long-term performance of acquiring firm. Using financial, accounting and questionnaire response data, we investigate the post-acquisition long-term...

We study the conflict of interests between the limited partners (LPs) and the general partner (GP) in a VC fund with a limited life span. LPs commit money to investments in risky projects, while the GP selects projects and provides unobservable monitoring effort. We assume that midway into the...

Researchers have always questioned the rationale for stock splits. Some have attributed the existence of stock split to a manager’s desire of increasing the liquidity of the stock. Others have argued that the split is a mechanism by which managers can signal to the market the expectations...

This paper examines the firm characteristics typically preferred by institutional investors before investing in a stock in the Indian equity market, and also explores the implications of such preferences in terms of their subsequent performance. We find that all institutional investors show...