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Recursos bibliográficos en papel y digitales -
- libros, artículos de revistas,
ponencias de eventos, etc. -
» Resultado:
6 registros
| Registro 1 de 6 |
| Autor: |
Allen, Jeffrey-W - McConnell, John-J - |
| Título: |
Equity Carve-Outs and Managerial Discretion |
| Fuente: |
Journal of Finance. v.53, n.1. American Finance Association |
| Páginas: |
pp. 163-86 |
| Año: |
Feb. 1998 |
| Resumen: |
This study proposes a managerial discretion hypothesis of equity carve-outs in which managers value control over assets and are reluctant to carve out subsidiaries. Thus, managers undertake carve-outs only when the firm is capital constrained. Consistent with this hypothesis, firms that carve out subsidiaries exhibit poor operating performance and high leverage prior to carve-outs. Also consistent with this hypothesis, in carve-outs wherein funds raised are used to pay down debt, the average excess stock return of +6.63 percent is significantly greater than the average excess stock return of -0.01 percent for carve-outs wherein funds are retained for investment purposes. |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 2 de 6 |
| Autor: |
Lie, Erik - McConnell, John-J - |
| Título: |
Earnings Signals in Fixed-Price and Dutch Auction Self-Tender Offers |
| Fuente: |
Journal of Financial Economics. v.49, n.2. Elsevier Science |
| Páginas: |
pp. 161-86 |
| Año: |
Aug. 1998 |
| Resumen: |
Studies by T. Vermaelen (1981) and others indicate that the positive excess stock returns around self-tender offer announcements are the result of a signal of future earnings improvements. R. Comment and G. A. Jarrell (1991), D. S. Lee, W. H. Mikkelson and M. M. Partch (1992) and J. C. Persons (1994) argue that the signal in fixed-price self-tender offers should be stronger than the signal in Dutch auction self-tender offers. This study tests whether the earnings improvement following fixed-price self-tender offers is greater than that following Dutch auction self-tender offers. The authors find some evidence that earnings improve following both types of self-tender offers. However, they find no difference in earnings improvement between the two types of offers. |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 3 de 6 |
| Autor: |
Tashjian, Elizabeth - Lease, Ronald-C - McConnell, John-J - |
| Título: |
Prepacks: An Empirical Analysis of Prepackaged Bankruptcies |
| Fuente: |
Journal of Financial Economics. v.40, n.1. Elsevier Science |
| Páginas: |
pp. 135-62 |
| Año: |
Jan. 1996 |
| Resumen: |
The authors provide comprehensive data on the attributes and outcomes of the restructuring process for a sample of forty-nine financially distressed firms that restructured by means of a prepackaged bankruptcy. Their findings complement previous research on out-of-court restructurings and traditional Chapter 11 filings. By most measures, including the time spent in reorganization, the direct fees as a percent of predistress assets, the recovery rates by creditors, and the incidence of violations of absolute priority of claimholders, the authors find that prepacks lie between out-of-court restructurings and traditional Chapter 11 bankruptcies. |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 4 de 6 |
| Autor: |
McConnell, John-J - Servaes, Henri - |
| Título: |
Equity Ownership and the Two Faces of Debt |
| Fuente: |
Journal of Financial Economics. v.39, n.1. Elsevier Science |
| Páginas: |
pp. 131-57 |
| Año: |
1995 |
| Resumen: |
The authors empirically investigate the relation between corporate value, leverage, and equity ownership. For ’high-growth’ firms, corporate value is negatively correlated with leverage, whereas for ’low-growth’ firms corporate value is positively correlated with leverage. The results also hint that the allocation of equity ownership among insiders, institutions, blockholders, and atomistic outside shareholders is of marginally greater significance in low-growth than in high-growth firms. The overall interpretation of the results is that debt policy and equity ownership structure ’matter’ and that the way in which they matter differs between firms with many and firms with few positive net present value projects. |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
| Registro 5 de 6 |
| Autor: |
McConnell, John-J - Singh, Manoj |
| Título: |
Rational Prepayments and the Valuation of Collateralized Mortgage Obligations |
| Fuente: |
Journal of Finance. v.49, n.3. American Finance Association |
| Páginas: |
pp. 891-921 |
| Año: |
July 1994 |
| Solicitar por: |
HEMEROTECA J + datos de Fuente |
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