New Research in Corporate Finance and Banking
Bruno Biais, Marco Pagano
Oxford University Press, 2002 - Business & Economics - 358 pages
The selection of papers presented in these two volumes reflects the depth and breadth of the research interests of European scholars in financial economics. Topics discussed include asset pricing in the context of perfect markets and of market imperfections, the interaction between business cycle and financial imperfections, take over bids, and the interplay between banks and financial markets. These two volumes will provide an invaluable reference tool for scholars in the field.
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active investor adverse selection allocation analysis assets auction average bidder bidding buyer capital market carve-outs cash flow choice coefficient companies competition contract controlling block costs of underpricing credit bureaus credit market creditors debt default demand deregulation effect efficient entrepreneurs equation equilibrium equity estimates ex ante expected profit Financial Economics financial innovation financial market financial system firm firm's function go public higher incentive increase industry information sharing informed traders initial public offerings interest rates issue issuers Journal of Financial lenders lending leverage loan marginal market maker moral hazard Nash equilibrium number of shares optimal Pagano payoff percent level period post-IPO pre-IPO probability problem promotion costs Proposition ratio regression reports Return on sales revenues sample Section sell Shapley value shareholders small investors stake strategy survival tender offer Thakor toeholds types underwriter universal banking variables wealth losses winner's curse zero