Private Firms
Working Paper
Financial Dependence and Innovation: The Case of Public versus Private Firms
This paper examines the relationship between innovation and firms? dependence on
external capital by analyzing the innovation activities of privately-held and publicly-traded firms. We find that public firms in external finance dependent...Read more
Contracting About Private Benefits of Control
The separation of control and ownership ? the ability of a small group effectively to control a company though holding a minority of its cash flow rights ? is common throughout the world, but also is commonly decried. The control group, it is...Read more
The Dutch Private Company: Successfully Relaunched?
This Chapter in a comparative book on private limited liability companies starts with an illustration of the former success of the Dutch limited liability company (BV). Next it addresses the competitive European legal environment within which the...Read more
A Primer on the Uncorporation
More and more companies appear with strange abbreviations behind their business name. Consider Chrysler Group LLC (instead of Inc.) or LVMH Montres and Joaillerie France SAS. Some even speak about the 'endangered corporate form' and...Read more
Post-Acquisition Performance of Private Acquirers
We provide the first evidence on the performance of private operating firms as acquirers. Private bidders experience greater post-acquisition operating performance improvements compared to public bidders. This effect is not due to differences in...Read more