F Act B Ook 2020 52 Nd Edition the UNIVERSITY of GEORGIA
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2 Private Equity and Corporate Governance
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Badunenko, Oleg; Karber, Moritz Fabien; Schäfer, Dorothea Working Paper Private Equity, Corporate Governance and Out- Performance of High-Growth Firms FINESS Working Paper, No. D.3.2 Provided in Cooperation with: German Institute for Economic Research (DIW Berlin) Suggested Citation: Badunenko, Oleg; Karber, Moritz Fabien; Schäfer, Dorothea (2010) : Private Equity, Corporate Governance and Out-Performance of High-Growth Firms, FINESS Working Paper, No. D.3.2, Deutsches Institut für Wirtschaftsforschung (DIW), Berlin This Version is available at: http://hdl.handle.net/10419/119491 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten -
William L. Megginson
William L. Megginson Division of Finance Michael F. Price College of Business The University of Oklahoma Norman, OK 73019-4005 Tel: (405) 325-2058; Fax: (405) 325-1957 e-mail: [email protected] website: http://faculty-staff.ou.edu/M/William.L.Megginson-1 Graduate Education: Florida State University Finance 1982-86 Ph.D. 1986 Louisiana State University Business Admin. 1977-82 M.B.A. 1982 Undergraduate Education: Mississippi College Chemistry 1972-76 B.S. 1976 Honors and Awards: Named second recipient of the Michael F. Price Chair in Finance, Price College of Business, University of Oklahoma, July 2014. Named first recipient of the Saudi Aramco Chair Professor in Finance, King Fahd University of Petroleum and Minerals (Dhahran, Saudi Arabia), February 2014. Named first recipient of the KFUPM Chair Professor in Finance, King Fahd University of Petroleum and Minerals (Dhahran, Saudi Arabia), February 2013. Named a George Lynn Cross Research Professor, the University of Oklahoma’s top research award (held by only 44 serving faculty), April 2010. Named a voting member of Italy’s Global Advisory Committee on Privatization by the Prime Minister, 2002. Reappointed 2006 and served until June 2007. Awarded the Fulbright Tocqueville Distinguished Chair in American Studies 2007-08 (one of only 37 Distinguished Chairs awarded by Fulbright), December 2006. Served as Tocqueville Chair and visiting professor, University Paris Dauphine, March-July 2008. Named first recipient of the College of Business Distinguished Ph.D. Alumnus Award at Florida State University, 2007. Named Distinguished Professor, Owen Graduate School of Management, Vanderbilt University, October 2007. Received Harold E. Hackler Outstanding MBA Professor Award 2012-2013, University of Oklahoma. -
Universidade Federal Do Rio Grande Do Sul Programa De Pós-Graduação Em Direito
Universidade Federal do Rio Grande do Sul Programa de Pós-Graduação em Direito THE GLOBAL EVOLUTION OF CORPORATE LAW: LESSONS FROM BRAZIL Mariana Pargendler Tese apresentada como requisito parcial para obtenção do título de Doutor em Direito pela Faculdade de Direito da Universidade Federal do Rio Grande do Sul, em co-tutela com a Yale Law School. Orientadores: Carlos Klein Zanini (Universidade Federal do Rio Grande do Sul) Henry Hansmann (Yale University) Porto Alegre, 2011 © 2011 by Mariana Pargendler All rights reserved. 2 To my parents, Maria Isabel and Ari, and to Carlos. ACKNOWLEDGMENTS This dissertation is the product of the collaboration between two law faculties in different hemispheres: the Yale Law School in the United States and the School of Law of the Federal University of Rio Grande do Sul (UFRGS) in Brazil. Professors Judith Martins-Costa, Carlos Klein Zanini, and Henry Hansmann have supported this joint enterprise since its inception, and for that I am most appreciative. The present work has benefited enormously from the resulting dialogue between these different legal cultures and styles of legal scholarship. I owe my deepest gratitude to my supervisor, Professor Henry Hansmann, who has been the most inspiring, dedicated, and generous academic mentor possible. I am deeply honored and humbled for the privilege of both receiving his invaluable guidance throughout the elaboration of this thesis and collaborating on other academic projects during my doctoral studies. I am also extremely grateful to my co-supervisor, Professor Carlos Klein Zanini. To him I owe not only the completion of this dissertation but also, as my first Business Organizations professor, my interest in corporate law that has accompanied me ever since. -
Privatization and Governance Regulation in Frontier Emerging Markets: the Case of Romania
Privatization and Governance Regulation in Frontier Emerging Markets: the Case of Romania Gilles Chemla Adrian Pop Diana Pop Rapport de Recherche RR-FiME-10-03 Février 2010 Privatization and governance regulation in frontier emerging markets: The case of Romania Gilles Chemla Imperial College Business School and DRM-CNRS South Kensington Campus, London SW7 2AZ, UK Tel.: +44-207-594-91-61; fax: +44-207-594-92-10. E-mail: [email protected] Adrian Pop University of Nantes (LEMNA) Chemin de la Censive du Tertre, BP 52231, 44322 Nantes, Cedex 3, France Tel.: +33-2-40-14-16-54; fax: +33-2-40-14-16-50. E-mail: [email protected] Diana Pop § University of Angers (GRANEM) 13 Allée François Mitterrand, BP 13633, 49036 Angers Cedex 01, France Tel.: +33-2-41-96-21-73; fax: +33-2-41-96-21-96. E-mail: [email protected] Abstract: We investigate the link between the regulation of control transactions and the institutional and corporate features of public companies, by analyzing the massive delisting activity in the Romanian capital market. The peculiar ownership reforms involving a large number of listed companies offer a unique opportunity to test Bebchuk and Roe’s (2000) theory of path dependence. Over time, the Romanian authorities have undertaken wide-ranging institutional reforms, most of which favoring blockholders over small and dispersed shareholders. Our empirical approach, based on logit and duration models, allows us to analyze the evolution of public companies over this period and sheds light on the likely events causing the eclipse of frontier emerging markets. -
Complete Briefing Book (PDF)
Briefi ng Book 2011Massachusetts Institute of Technology Briefi ng Book Massachuse s Ins tute of Technology 2011 edi on © April, 2011 Researched and wri en by a variety of MIT faculty and staff , in par cular the members of the Offi ce of the Provost/Ins tu onal Research, Offi ce of the President, Offi ce of Sponsored Research, Student Financial Services, and the MIT Washington Offi ce. ExecuƟ ve Editors Claude R. Canizares, Vice President for Research [email protected] William B. Bonvillian, Director, MIT Washington Offi ce [email protected] Editors Audrey Resutek [email protected] Lydia Snover, to whom all ques ons should be directed [email protected] 2 Acknowledgements and Contributors Many thanks to the following individuals who provided informa on, contributed data, or wrote sec ons of this book. Sco Barge Robin Lemp Suzanne Berger David L. Lewis Margaret Bruzelius John H. Lienhard Stephen E. Carson Rebecca Marshall-Howarth Michelle Christy Anne Marie Michel Melody Craven Daniel G. Nocera Daniel Delgado O’Neil Outar Stephen D. Dowdy Charlene M. Placido Michael J. Faber Brendon Puff er Gregory Farley Penny J. Rosser Kevin Fiala Dorothy Ryan Caroline Ficke Jennifer Schmi Greg Frost Timothy Manning Swager Patrick E. Gillooly Amy Tarr Rachel Glennerster Bernhardt L. Trout Danielle Guichard-Ashbrook Jack Turner Gregory Harris Rebecca Tyler Ronald E. Hassel ne Ingrid Vargas Elizabeth M. Hicks Heather G. Williams April Julich Perez Nancy Y.J. Wong Danielle Khoury Shirley Wong Cover Art: “Dome,” by Andrew Ryan 3 Massachuse s Ins tute of Technology 77 Massachuse s Avenue Cambridge, MA 02139-4307 Telephone Number (617) 253-1000 Cable Address MIT CAM Fax Number 617-253-8000 URL h p://web.mit.edu/ MIT Washington Offi ce The MIT Washington Offi ce was established in 1991 as part of the President’s Offi ce. -
Corporate Liquidity, Acquisitions, and Macroeconomic Conditions
NBER WORKING PAPER SERIES CORPORATE LIQUIDITY, ACQUISITIONS, AND MACROECONOMIC CONDITIONS Isil Erel Yeejin Jang Bernadette A. Minton Michael S. Weisbach Working Paper 23493 http://www.nber.org/papers/w23493 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2017 The authors are Fellows of the National Center for the Middle Market at the Fisher College of Business, Ohio State University, and acknowledge the Center’s support for this research. Some of this research was completed when Michael Weisbach was a visiting scholar at the University of Hong Kong. We thank Greg Allen, Dongxu Li, and Sam Osea for excellent research assistance and Murillo Campello, Shan Ge, Charlie Hadlock, Peter Iliev, and participants at 2017 Midwest Finance Association conference for helpful discussions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2017 by Isil Erel, Yeejin Jang, Bernadette A. Minton, and Michael S. Weisbach. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Corporate Liquidity, Acquisitions, and Macroeconomic Conditions Isil Erel, Yeejin Jang, Bernadette A. Minton, and Michael S. Weisbach NBER Working Paper No. 23493 June 2017 JEL No. G31,G34 ABSTRACT Firms hold liquid assets to enhance their ability to invest efficiently when external financing costs are high, especially during poor macroeconomic conditions. -
From State to Market: a Survey of Empirical Studies on Privatization
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Megginson, William L.; Netter, Jeffry M. Working Paper From State to Market: A Survey of Empirical Studies on Privatization Nota di Lavoro, No. 1.1999 Provided in Cooperation with: Fondazione Eni Enrico Mattei (FEEM) Suggested Citation: Megginson, William L.; Netter, Jeffry M. (1999) : From State to Market: A Survey of Empirical Studies on Privatization, Nota di Lavoro, No. 1.1999, Fondazione Eni Enrico Mattei (FEEM), Milano This Version is available at: http://hdl.handle.net/10419/154955 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu FROM STATE TO MARKET: A SURVEY OF EMPIRICAL STUDIES ON PRIVATIZATION Prepared by: William L. Megginson Professor & Rainbolt Chair in Finance Michael F. -
Eastern Finance Association 2012 Program April 11 - 14, 2012 Hyatt Regency Bosto N Boston, Massachusetts
EasternFinance.org Eastern Finance Association 2012 Program April 11 - 14, 2012 Hyatt Regency Bosto n Boston, Massachusetts Thursday, April 12, 2012, 8:30am Session A.2 Corporate Governance: Board Structure Session A.3 Behavioral Finance - Retail Traders and 52-Week Highs Session A.4 Accounting Issues in Finance Session A.5 Agency: Tournaments and CEO Pay Session A.6 Depository Institutions - Loan Pricing, Risk Exposure, and Clustering Session A.7 Currency Jumps and Exchange Rates Session A.9 Market Efficiency, Momentum and Mean Reversion Session A.10 Asset Pricing and Levered Returns Session A.12 Idiosyncratic Risk and Volatility Session A.13 M&A: Influence of Creditors, Stock, and Leverage on Outcomes A.2 Corporate Governance: Board Structure Date and Time: Thursday, April 12, 2012 8:30am - 10:00am Room: Ballroom A Session Chair: Christine Panasian, Saint Mary's University Paper 1:"A Multinational Study of the Determinants and Effects of Having Foreign Independent Directors" Mihail K. Miletkov, University of New Hampshire (Contact Author) Modupe Babajide Wintoki, University of Kansas Annette Poulsen, University of Georgia Discussant: Mufaddal Baxamusa, University of St Thomas Paper 2:"Am I Right or Am I Right? Dividend Privileges and the Value of Voting Rights" Ettore Croci, Universit � Cattolica - Milan (Contact Author) Marco Bigelli, University of Bologna Discussant: Patrick Schorno, UNC Charlotte Paper 3:"Executive Turnover, Gender, and Earnings Management" Emilia Peni, University of Vaasa (Contact Author) Discussant: Yan Wendy Wu, -
F Act B Ook 2019 9 51 St Edition the UNIVERSITY of GEORGIA
9 Fact Book 2019 51st Edition THE UNIVERSITY OF GEORGIA www.oir.uga.edu Fact Book 2019 Cover design by Timothy P. Welsh Bulldog Print + Design Cover photo by Scott Duvall, Jawavi Films Provided courtesy of Terry College of Business Cover The Business Learning Community at the University of Georgia is the new home of the state’s flagship business school at the nation’s birthplace of public higher education. Built in three phases spanning six years, the Business Learning Community is a remarkable testament to the public/private partnership between the state of Georgia and the many alumni and friends of the Terry College of Business who supported the Building Terry campaign through their private gifts. The complex of six buildings provides the highly collaborative learning environment that Terry’s faculty and staff have long envisioned for all business students, featuring modern classrooms, team rooms, and spacious common areas. Correll Hall was the first to open in 2015. The next phase, which included Amos Hall, Benson Hall, and Moore-Rooker Hall, opened two years later. The third and final phase of construction was completed in 2019. It features two buildings – Ivester Hall and Sanford and Barbara Orkin Hall – separated by the Coca-Cola Plaza. Fact Book 2019 UGA Fact Book 2019 THE UNIVERSITY OF GEORGIA FACT BOOK 2019 51st Edition Edited By: Mary T. Moore Office of Institutional Research 110 East Clayton Street, Suite 505 The University of Georgia Athens, Georgia 30602-5279 Published By: Office of Institutional Research Paul Klute, Director 110 East Clayton Street, Suite 505 The University of Georgia Athens, Georgia 30602-5279 (706) 425-3183 (706) 425-3200, fax Printed By: Bulldog Print + Design Harold Waters, Jr., Manager 255 Spring Street Athens, Georgia 30605 Copyright © 2019 By: The University of Georgia Office of the Vice President for Research Paul D. -
What Does It Take to List Abroad? the Role of Global Underwriters
Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. What does it take to list abroad? The Role of Global Underwriters Cecilia R. Caglio, Kathleen Weiss Hanley, and Jennifer Marietta-Westberg 2016-041 Please cite this paper as: Caglio, Cecilia R., and Kathleen Weiss Hanley, Jennifer Marietta-Westberg (2016). “What does it take to list abroad? The Role of Global Underwriters,” Finance and Economics Discussion Series 2016-041. Washington: Board of Governors of the Federal Reserve System, http://dx.doi.org/10.17016/FEDS.2016.041. NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors. References in publications to the Finance and Economics Discussion Series (other than acknowledgement) should be cleared with the author(s) to protect the tentative character of these papers. What does it take to list abroad? The Role of Global Underwriters Cecilia Caglio, Kathleen Weiss Hanley and Jennifer Marietta-Westberg ∗ Current version: March 2016 ABSTRACT This paper examines which firms benefit the most from going public abroad and how a robust IPO market affects the trend toward greater globalization of capital. We show that the decision to do an IPO outside the home country is affected not only by the home country's market characteristics but also the extent to which it is financially integrated with the world economy. -
E:\Multinational Finance Society (Website)\MFC2015\22Nd Annual
TWENTY-SECOND ANNUAL CONFERENCE OF THE MULTINATIONAL FINANCE SOCIETY (As of June 19, 2015) June 28 - June 30, 2015 Porto Carras Grand Resort Meliton Hotel Halkidiki, GREECE SESSION 1 Monday 8:30 - 10:30 Meliton Hall A CRISIS I Session Chair: Elyas Elyasiani - Temple University, USA "CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers" Jongsub Lee - University of Florida, USA Andy Naranjo - University of Florida, USA Stace Sirmans - University of Arkansas, USA Discussant: George Georgopoulos - York University, Canada "The Financial Crisis: Implications for Monetary Policy" George Georgopoulos - York University, Canada Walid Hejazi - University of Toronto, Canada Sandeep Pillai - University of Maryland, Canada Discussant: Ania Zalewska - University of Bath, UK "Stock Market Risk in the Financial Crisis" Paul Grout - University of Bristol, UK Ania Zalewska - University of Bath, UK Discussant: Raúl De Jesús Gutiérrez - Universidad Autónoma del Estado de México, Mexico "Measurement of Tail Risk of Mexico’s Oil Exports Mix Applying the Theory of Conditional Extreme Values" Raúl De Jesús Gutiérrez - Universidad Autónoma del Estado de México, Mexico Edgar Ortiz - Universidad Nacional Autonoma de Mexico, Mexico Oswaldo García Salgado - Universidad Autónoma del Estado de México, Mexico Verónica Ángeles Morales - Universidad Autónoma del Estado de México, Mexico Discussant: Andy Naranjo - University of Florida, USA SESSION 2 Monday 8:30 - 10:30 Meliton Hall B ASSET PRICING I Session Chair: Jahangir Sultan - Bentley University, USA -
Briefing Book 2010 Massachusetts Institute of Technology
Briefing Book 2010 Massachusetts Institute of Technology Briefing Book Massachusett s Insti tute of Technology 17 February, 2010 Researched and writt en by a variety of MIT faculty and staff , in parti cular the members of the Offi ce of the Provost/Insti tuti onal Research, Offi ce of the President, Of- fi ce of Sponsored Research, Student Financial Services, and the MIT Washington Offi ce. Executi ve Editors Claude R. Canizares, Vice President for Research [email protected] William B. Bonvillian, Director, MIT Washington Offi ce [email protected] Editors Audrey Resutek [email protected] Lydia Snover, to whom all questi ons should be directed [email protected] 2 Acknowledgements and Contributors Many thanks to the following individuals who provided informati on, contributed data, or wrote secti ons of this book. Scott Barge Anne Marie Michel Suzanne Berger Daniel G. Nocera Margaret Bruzelius O’Neil Outar Stephen E. Carson Charlene M. Placido Daniel Delgado Brendon Puff er Stephen D. Dowdy Penny J. Rosser Michael J. Faber Jennifer Schmitt Gregory Farley Timothy Manning Swager Greg Frost Amy Tarr Patrick E. Gillooly Bernhardt L. Trout Rachel Glennerster Jack Turner Danielle Guichard-Ashbrook Ingrid Vargas Gregory Harris Heather G. Williams Ronald E. Hasselti ne Nancy Y.J. Wong Elizabeth M. Hicks Shirley Wong April Julich Perez Danielle Khoury Robin Lemp David L. Lewis John H. Lienhard Rebecca Marshall-Howarth 3 Massachusett s Insti tute of Technology 77 Massachusett s Avenue Cambridge, MA 02139-4307 Telephone Number 617-253-1000 Cable Address MIT CAM Fax Number 617-253-8000 URL htt p://web.mit.edu/ MIT Washington Offi ce The MIT Washington Offi ce was established in 1991 as part of the President’s Offi ce.