Value

Working Paper

01 August 2016

Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions

This paper studies the effects of anti-takeover provisions on takeovers and identifies the channels through which they create or destroy value for firms, as well as for the economy as a whole. We provide causal estimates – that also...

Vicente Cuñat | Mireia Giné | MARIA GUADALUPE
01 June 2013

Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence

This paper presents an industry equilibrium model where firms have a choice to engage in corporate social responsibility (CSR) activities. We model CSR as an investment to increase product differentiation that allows firms to benefit...

Rui Albuquerque | Art Durnev | Yrjö Koskinen
01 January 2009

Corporate Governance and Value Creation: Evidence from Private Equity

We examine deal-level data from 395 private equity transactions in Western Europe initiated by large private equity houses during the period 1991 to 2007. We un-lever the deal-level equity return and adjust for un-levered return to...

Viral Acharya | Moritz Hahn | Conor Kehoe

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