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Recursos bibliográficos en papel y digitales -
- libros, artículos de revistas,
ponencias de eventos, etc. -
» Resultado: 3 registros
| Registro 1 de 3 | |
| Autor: | Rajan, Raghuram - Servaes, Henri - |
| Título: | Analyst Following of Initial Public Offerings |
| Fuente: | Journal of Finance. v.52, n.2. American Finance Association |
| Páginas: | pp. 507-29 |
| Año: | June 1997 |
| Resumen: | The authors examine data on analyst following for a sample of initial public offerings completed between 1975 and 1987 to see how they related to three well-documented initial public offering (IPO) anomalies. They find that higher underpricing leads to increased analyst following. Analysts are overoptimistic about the earnings potential and long-term growth prospects of recent IPOs. More firms complete IPOs when analysts are particularly optimistic about the growth prospects of recent IPOs. In the long run, IPOs have better stock performance when analysts ascribe low growth potential rather than high growth potential. These results suggest that the anomalies may be partially driven by overoptimism. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 3 | |
| Autor: | Servaes, Henri - |
| Título: | The Value of Diversification during the Conglomerate Merger Wave |
| Fuente: | Journal of Finance. v.51, n.4. American Finance Association |
| Páginas: | pp. 1201-25 |
| Año: | Sept. 1996 |
| Resumen: | The current trend toward corporate focus reverses the diversification trend of the late 1960s and early 1970s. This article examines the value of diversification when many corporations started to diversify. The author finds no evidence that diversified companies were valued at a premium over single segment firms during the 1960s and 1970s. On the contrary, there was a large diversification discount during the 1960s but this discount declined to zero during the 1970s. Insider ownership was negatively related to diversification during the 1960s but, when the diversification discount declined, firms with high insider ownership were the first to diversify. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 3 de 3 | |
| 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 |
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