Equity Carveouts, Agency Costs, and Firm Value
indgår i Entrepreneurship serien
- Indbinding:
- Paperback
- Sideantal:
- 469
- Udgivet:
- 27. september 2005
- Udgave:
- 12005
- Størrelse:
- 210x148x24 mm.
- Vægt:
- 604 g.
- 8-11 hverdage.
- 5. december 2024
Normalpris
Abonnementspris
- Rabat på køb af fysiske bøger
- 1 valgfrit digitalt ugeblad
- 20 timers lytning og læsning
- Adgang til 70.000+ titler
- Ingen binding
Abonnementet koster 75 kr./md.
Ingen binding og kan opsiges når som helst.
- 1 valgfrit digitalt ugeblad
- 20 timers lytning og læsning
- Adgang til 70.000+ titler
- Ingen binding
Abonnementet koster 75 kr./md.
Ingen binding og kan opsiges når som helst.
Beskrivelse af Equity Carveouts, Agency Costs, and Firm Value
Equity carveouts (ECOs) as an instrument of financing and reorganization have increased in popularity: In 1999/2000, more than 40% of German IPO volume is accounted for by equity carveouts. Prominent examples are the carveout of Infineon (Siemens) and of T-Online (Deutsche Telekom). However, activity has decreased since the boom year 2000, and in 2002 and 2003 not a single ECO has taken place. In 2004, the planned ECO of Hapag-Lloyd was cancelled, and Deutsche Telekom even bought back T-Online. Thus, in practice there is no clear verdict on ECOs as instruments of financing and reorganization. The academic literature has been occupied with the subject for 15 to 20 years, but with heterogeneous results: Some contributions lack stringent theoretical foundations, coupled with effective empirical analysis, others limit their scope to the short-term effect of ECOs. Consequently, the overall effect of ECOs on firm valuation still remains unclear. The present thesis by Lukas Junker attempts to answer exactly this question. It analyzes the effects of ECOs on firm valuation (holding company as well as subsidiary).
Brugerbedømmelser af Equity Carveouts, Agency Costs, and Firm Value
Giv din bedømmelse
For at bedømme denne bog, skal du være logget ind.Andre købte også..
Find lignende bøger
Bogen Equity Carveouts, Agency Costs, and Firm Value findes i følgende kategorier:
© 2024 Pling BØGER Registered company number: DK43351621