Capital

Working Paper

01 September 2014

Are Buybacks Good for Long-Term Shareholder Value? Evidence from Buybacks around the World

Using a sample of over 9,000 buyback announcements from 31 non-U.S. countries, we find support for the results of studies based on U.S. data: on average, share repurchases are associated with significant positive short-term and...

Alberto Manconi | Urs Peyer | Theo Vermaelen
19 September 2019

Be Careful What You Ask for: Fundraising Strategies in Equity Crowdfunding

We use equity crowdfunding data to ask how fundraising amounts can be explained by what entrepreneurs ask for, versus what investors want to invest. The analysis exploits unique features of crowdfunding where entrepreneurs not only...

Thomas Hellmann | Ilona Mostipan | Nir Vulkan
01 June 2004

Which Investors Fear Expropriation? Evidence from Investors' Portfolio Choices

Using a data set that provides unprecedented detail on investors' stockholdings, we analyze whether investors take the quality of corporate governance into account when selecting stocks. We find that all categories of investors who...

Mariassunta Giannetti | Andrei Simonov

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