Equity finance and control of corporations: essays on initial public offerings, equity carve-outs, and the origins of the German corporation
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Berlin
dissertation.de
2005
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIII, 155 S. graph. Darst. |
| ISBN: | 3898259420 |
Internformat
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Datensatz im Suchindex
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| adam_text | HANNES F. WAGNER EQUITY FINANCE AND CONTROL OF CORPORATIONS ESSAYS ON
INITIAL PUBLIC OFFERINGS, EQUITY CARVE-OUTS, AND THE ORIGINS OF THE
GERMAN CORPORATION TABLE OF CONTENTS LIST OF FIGURES IX LIST OF TABLES
XIII 1 INTRODUCTION 1 2 THE EQUITY CARVE-OUT DECISION 7 2.1 INTRODUCTION
7 2.2 HYPOTHESES FOR THE CARVE-OUT DECISION 10 2.2.1 HYPOTHESES AND
VARIABLES 10 2.2.2 SUMMARY 16 2.3 DATA 18 2.3.1 SAMPLE CONSTRUCTION 18
2.3.2 DESCRIPTIVE STATISTICS 20 2.4 CARVE-OUT ANNOUNCEMENT RETURNS 26
2.5 VALUING MANAGERIAL DECISION MOTIVES 29 2.5.1 MANAGERIAL MOTIVES 29
2.5.2 MARKET REACTION 32 2.5.3 EVIDENCE FROM PANEL DATA 34 2.5.4
EVIDENCE FROM ABNORMAL RETURNS 38 2.5.5 ADDITIONAL RESULTS ON INTERNAL
ORGANIZATION AND INCENTIVES AND RELATIVE COST ADVANTAGES 41 2.6 SUMMARY
AND CONCLUSIONS 44 V VI TABLE OF CONTENTS APPENDIX: CALCULATION OF
CUMULATED ABNORMAL AVERAGE RETURNS 46 BIBLIOGRAPHY FOR CHAPTER 2 52 3
WHAT DETERMINES MARKET TIMING? 53 3.1 INTRODUCTION 53 3.2 THEORY AND
PROPOSITIONS 57 3.2.1 MARKET TIMING OF EQUITY OFFERINGS 57 3.2.2 INITIAL
PUBLIC OFFERINGS AND EQUITY CARVE-OUTS 59 3.2.3 PROPOSITIONS 60 3.3 DATA
SOURCES AND SAMPLE DESCRIPTION 61 3.4 METHODOLOGY 67 3.4.1 LONG-TERM
PERFORMANCE OF STOCK PRICE 67 3.4.2 OPERATING PERFORMANCE AND
MARKET-TO-BOOK RATIOS 75 3.5 EMPIRICAL RESULTS 78 3.5.1 EVIDENCE ON
LONG-TERM PERFORMANCE OF STOCK PRICE 78 3.5.2 EVIDENCE ON OPERATING
PERFORMANCE 87 3.5.3 EVIDENCE ON MARKET-TO-BOOK PATTERNS 92 3.5.4
ADDITIONAL RESULTS ON OPERATING PERFORMANCE AND MARKET-TO- BOOK USING
BALANCED PANELS, FIXED PANELS AND CALENDAR-TIME MEA- SURES 96 3.6
CONCLUSIONS 100 APPENDIX: DATA ITEMS 103 BIBLIOGRAPHY FOR CHAPTER 3 107
4 THE ORIGINS OF THE GERMAN CORPORATION 109 4.1 INTRODUCTION 109 4.2
GERMAN FINANCIAL MARKETS ILL 4.2.1 THE STOCK CORPORATION AND STOCK
MARKET REGULATION ILL 4.2.2 INVESTOR PROTECTION 115 TABLE OF CONTENTS
4.3 DATA 118 4.4 GROWTH AND FINANCING OF GERMAN FIRMS 124 4.5 THE
DEVELOPMENT OF OWNERSHIP 126 4.5.1 CONCENTRATION OF OWNERSHIP 126 4.5.2
INSIDER OWNERSHIP AND VOTING 130 4.5.3 SHAREHOLDER TYPES AND THE ROLE OF
BANKS 134 4.5.4 TIME TREND REGRESSIONS 136 4.5.5 PROXY VOTES AND FAMILY
OWNERSHIP 141 4.6 CONCLUSIONS 146 APPENDIX: INDICES OF INVESTOR
PROTECTION IN GERMANY DURING THE 20TH CENTURY 149 BIBLIOGRAPHY FOR
CHAPTER 4 154
|
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| spelling | Wagner, Hannes F. Verfasser aut Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation Hannes F. Wagner Berlin dissertation.de 2005 XIII, 155 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Zugl.: München, Univ., Diss., 2005 Going Public (DE-588)4219438-6 gnd rswk-swf Equity Carve-out (DE-588)4874711-7 gnd rswk-swf Corporate Governance (DE-588)4419850-4 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Deutschland (DE-588)4011882-4 g Unternehmen (DE-588)4061963-1 s Going Public (DE-588)4219438-6 s Equity Carve-out (DE-588)4874711-7 s Corporate Governance (DE-588)4419850-4 s DE-604 GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013075431&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Wagner, Hannes F. Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation Going Public (DE-588)4219438-6 gnd Equity Carve-out (DE-588)4874711-7 gnd Corporate Governance (DE-588)4419850-4 gnd Unternehmen (DE-588)4061963-1 gnd |
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| title | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation |
| title_auth | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation |
| title_exact_search | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation |
| title_full | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation Hannes F. Wagner |
| title_fullStr | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation Hannes F. Wagner |
| title_full_unstemmed | Equity finance and control of corporations essays on initial public offerings, equity carve-outs, and the origins of the German corporation Hannes F. Wagner |
| title_short | Equity finance and control of corporations |
| title_sort | equity finance and control of corporations essays on initial public offerings equity carve outs and the origins of the german corporation |
| title_sub | essays on initial public offerings, equity carve-outs, and the origins of the German corporation |
| topic | Going Public (DE-588)4219438-6 gnd Equity Carve-out (DE-588)4874711-7 gnd Corporate Governance (DE-588)4419850-4 gnd Unternehmen (DE-588)4061963-1 gnd |
| topic_facet | Going Public Equity Carve-out Corporate Governance Unternehmen Deutschland Hochschulschrift |
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