Despite the relatively short history of research efforts on exchange rate exposure, past studies have shown considerable attention to trading firms and industries. Meanwhile, international tourism demand is often explained as a function of the exchange rate between the home and visiting...

Since the early 1990s there has been a substantial increase both in mergers and acquisitions (M&A) as well as in divestitures of high-tech companies. This dissertation examines the takeover and divestiture activity in high-tech markets in an effort to extend our current knowledge regarding...

This dissertation analyzes the impact of takeover defenses and cancellations in three essays: (1) The Impact of the Strength of Targets' Takeover Defense Mechanisms on Acquiring Firms; (2) The Impact of the Announcement of Shareholder-Friendly Poison Pill Provisions on Shareholder Wealth; and...

Researchers of Initial Public Offerings, IPOs, have, traditionally, filtered out low-priced stocks with cut-off prices depending on individual study. This study examines underpricing, short- and long-run performance of one special class of such low-priced stocks. I examine IPOs filed for and...

This dissertation extends previous research on bubbles by investigating whether changes in the financial asset prices of the S&P500 reflect changes in fundamentals. We propose that if this is not the case the volatility is due to a bubble. Hence, this is the general hypothesis from which several...

The purpose of this study is to develop and empirically test theories on wealth effects surrounding divestiture of foreign and domestic subsidiaries by U.S. firms. Two primary research questions are addressed: (1) What are the wealth effects associated with divestiture of foreign and domestic...

This dissertation analyzes the interplay among managerial incentives, institutional investors, and corporate investment in the presence of efficient capital markets. In my model the fund manager is better informed than the market but has less information than the corporate manager. In this...

Literature regarding the gains from internationalization is mixed and ambiguous. This may be because the previous literature ignores issues such as technological push and pull factors that attract foreign investment, industry competitiveness and rivalry among industry participants, the policy of...

A könyv a vállalati pénzügyek néhány kiválasztott témakörét tárgyalja, gyakorlati példákon keresztül mutat be egy-egy kiemelt területet. A vállalati pénzügyek egyik fontos témaköréhez tartozik a vállalat-, befektetés- és beruházás-értékelés, amely a könyv első...