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Recursos bibliográficos en papel y digitales -
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» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Safieddine, Assem - Titman, Sheridan - |
| Título: | Leverage and Corporate Performance: Evidence from Unsuccessful Takeovers |
| Fuente: | Journal of Finance. v.54, n.2. American Finance Association |
| Páginas: | pp. 547-80 |
| Año: | Apr. 1999 |
| Resumen: | This paper finds that, on average, targets that terminate takeover offers significantly increase their leverage ratios. Targets that increase their leverage ratios the most reduce capital expenditures, sell assets, reduce employment, increase focus, and realize cash flows and share prices that outperform their benchmarks in the five years following the failed takeover. The authors’ evidence suggests that leverage-increasing targets act in the interests of shareholders when they terminate takeover offers and that higher leverage helps firms remain independent not because it entrenches managers but because it commits managers to making the improvements that would be made by potential raiders. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Safieddine, Assem - Wilhelm, William-J, Jr - |
| Título: | An Empirical Investigation of Short-Selling Activity Prior to Seasoned Equity Offerings |
| Fuente: | Journal of Finance. v.51, n.2. American Finance Association |
| Páginas: | pp. 729-49 |
| Año: | June 1996 |
| Resumen: | The authors investigate the nature and magnitude of short-selling activity around seasoned equity offerings, the relation between short-selling activity and issue discounts, and the consequences of the Securities and Exchange Commission adoption of Rule 10b-21 in response to concerns about manipulative short-selling practices. Seasoned offerings are characterized by abnormally high levels of short selling and option open interest. Higher levels of such activity are related to lower expected proceeds from the issuance of new shares. Where it could not be circumvented, Rule 10b-21 appears to have curbed short-selling activity and reduced issue discounts. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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