Download Preserving Firm Value Through Exit PDF

Preserving Firm Value Through Exit

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ISBN 10 : UOM:35128001830700
Pages : 50 pages
Rating : 4./5 ( downloads)

Download Preserving Firm Value Through Exit PDF Full Free by Michael J. Fleming and published by . This book was released on 1995 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Voluntary liquidations offer an interesting example of efficient and orderly asset reallocation. This study examines why firms liquidate, and what happens to their assets. One important determinant of voluntary liquidation concerns asset performance and marketability: liquidating firms have low asset productivity, low market-to-book ratios, and high liquidity. Another important determinant concerns management having the proper incentives to liquidate: high inside ownership, takeover pressure, and low debt levels. Financial factors thus establish whether a liquidation is profitable, while organizational factors determine whether management chooses to liquidate. The study also finds that many liquidating firm assets are sold to firms operating in the same industry. Returns to liquidating firm shareholders are significantly greater here, rather than when they are sold to firms in a different industry. Moreover, intra-industry liquidations tend to occur in superior performing industries when industry performance is at a peak"--Federal Reserve Bank of New York web site.


Download Mergers, Acquisitions, and Other Restructuring Activities PDF

Mergers, Acquisitions, and Other Restructuring Activities

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Publisher : Academic Press
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ISBN 10 : 9780080952055
Pages : 788 pages
Rating : 4.2/5 (52 downloads)

Download Mergers, Acquisitions, and Other Restructuring Activities PDF Full Free by Donald DePamphilis and published by Academic Press. This book was released on 2009-09-22 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the fifth edition of this well-known text, Dr. DePamphilis explains the real world of mergers, acquisitions, and restructuring based on his academic knowledge and personal experiences with over 30 such deals himself. Important enhancements unique to the fifth edition: all 99 cases involve real-life deals made or announced within the last five years, extensive discussions of all current valuation techniques and their strengths and weaknesses, cross-border transactions analyzed and explained in detail, tax and legal issues covered comprehensively. Focuses on the REAL WORLD, not just theory. The 99 case studies span every industry and dozens of countries and show how deals are done rather than just the theory behind them. All cases fully updated for this edition. Cases all involve transactions that have occurred or been announced within the past 3-5 years. Extensive updating and enhanced content provided on reorganization, bankruptcy, and liquidation issues both inside and outside of bankruptcy court


Download Mergers, Acquisitions, and Other Restructuring Activities, 4E PDF

Mergers, Acquisitions, and Other Restructuring Activities, 4E

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Publisher : Academic Press
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ISBN 10 : 9780080951638
Pages : 768 pages
Rating : 4.1/5 (516 downloads)

Download Mergers, Acquisitions, and Other Restructuring Activities, 4E PDF Full Free by Donald DePamphilis and published by Academic Press. This book was released on 2007-11-26 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dr. Donald DePamphilis explains the real-world of mergers, acquisitions, and restructuring based on his academic knowledge and personal experiences with over 30 such deals himself. The 99 case studies span every industry and countries and regions worldwide show how deals are done rather than just the theory behind them, including cross-border transactions. The interactive CD is unique in enabling the user to download and customize content. It includes an Excel-based LBO model and an M&A Structuring and Valuation Model in which readers can insert their own data and modify the model to structure and value their own deals. CD also real options applications and projecting growth rates. Student Study Guide on CD contains practice problems/solutions, powerpoint slides outlining main points of each chapter, and selected case study solutions. An extensive on-line instructor's manual contains powerpoint slides for lectures following each chapter, detailed syllabi for using the book for both undergraduate and graduate-level courses, and an exhaustive test bank with over 750 questions and answers (including true/false, multiple choice, essay questions, and computational problems). * CDROM contains extensive student study guide and detailed listings of online sources of industry and financial data and models on CDROM * Numerous valuation and other models on CDROM can be downloaded and customized by readers * Online Instructor's Manual with test bank, extra cases, and other resources * Over 90 cases


Download Mergers, Acquisitions, and Other Restructuring Activities PDF

Mergers, Acquisitions, and Other Restructuring Activities

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Publisher : Academic Press
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ISBN 10 : 0122095529
Pages : 774 pages
Rating : 4.2/5 (22 downloads)

Download Mergers, Acquisitions, and Other Restructuring Activities PDF Full Free by Donald M. DePamphilis and published by Academic Press. This book was released on 2003 with total page 774 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work includes updated cases and grounded models which reflect the theoretical underpinnings of the field. Expanded usage of key idea section headings enable the student to understand more easily the key point in each section of each chapter.


Download Pricing Corporate Securities as Contingent Claims PDF

Pricing Corporate Securities as Contingent Claims

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Publisher : MIT Press
Release Date :
ISBN 10 : 0262072238
Pages : 415 pages
Rating : 4.2/5 (62 downloads)

Download Pricing Corporate Securities as Contingent Claims PDF Full Free by Kenneth D. Garbade and published by MIT Press. This book was released on 2001 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together developments from the past 30years in contingent valuation, this book examines the relative value of securities in a corporation's capital structure, including debt of different priorities, convertible debt, common stock, and warrants.


Download Legitimacy Needs as Drivers of Business Exit PDF

Legitimacy Needs as Drivers of Business Exit

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Publisher : Springer Science & Business Media
Release Date :
ISBN 10 : 9783834997593
Pages : 181 pages
Rating : 4.7/5 (975 downloads)

Download Legitimacy Needs as Drivers of Business Exit PDF Full Free by Carolin Decker and published by Springer Science & Business Media. This book was released on 2008-08-28 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carolin Decker develops and empirically applies a framework in which business exits serve the purpose of re-establishing a firm’s previously harmed legitimacy. Her findings support the idea that legitimacy needs drive the likelihood of fit-enhancing business exits in divesting firms.


Download Rational Bias in Macroeconomic Forecasts PDF

Rational Bias in Macroeconomic Forecasts

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ISBN 10 : UOM:35128001999711
Pages : 36 pages
Rating : 4./5 ( downloads)

Download Rational Bias in Macroeconomic Forecasts PDF Full Free by David Scott Laster and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper develops a model of macroeconomic forecasting in which the wages firms pay their forecasters are a function of their accuracy as well as the publicity they generate for their employers by being correct. In the resulting Nash equilibrium, forecasters with identical models, information, and incentives nevertheless produce a variety of predictions in order to maximize their expected wages. In the case of heterogeneous incentives, the forecasters whose wages are most closely tied to publicity, as opposed to accuracy, produce the forecasts that deviate most from the consensus. We find empirical support for our model using a twenty-year panel of real GNP/GDP forecast data from the survey Blue Chip Economic Indicators. Although the consensus outperforms virtually every forecaster, many forecasters choose to deviate from it substantially and regularly. Moreover, the extent of this deviation varies by industry in a manner consistent with our model"--Federal Reserve Bank of New York web site.


Download Price Formation and Liquidity in the U.S. Treasury Market PDF

Price Formation and Liquidity in the U.S. Treasury Market

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ISBN 10 : UOM:35128002037214
Pages : 62 pages
Rating : 4./5 ( downloads)

Download Price Formation and Liquidity in the U.S. Treasury Market PDF Full Free by Michael J. Fleming and published by . This book was released on 1997 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We identify striking adjustment patterns for price volatility, trading volume, and bid-ask spreads in the U.S. Treasury market when public information arrives. Using newly available high-frequency data, we find a notable lack of trading volume upon a major announcement when prices are most volatile. The bid-ask spread widens dramatically with price volatility and narrows just as dramatically with trading volume. Trading volume surges only after an appreciable lag following the announcement. High levels of price volatility and trading volume then persist, with volume persisting somewhat longer"--Federal Reserve Bank of New York web site.


Download Preserving Firm Value Through Exit PDF

Preserving Firm Value Through Exit

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Publisher :
Release Date :
ISBN 10 : OCLC:1290318709
Pages : 53 pages
Rating : 4./5 ( downloads)

Download Preserving Firm Value Through Exit PDF Full Free by Michael J. Fleming and published by . This book was released on 2007 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Voluntary liquidations offer an interesting example of efficient and orderly asset reallocation. This study examines why firms liquidate, and what happens to their assets. One important determinant of voluntary liquidation concerns asset performance and marketability: liquidating firms have low asset productivity, low market-to-book ratios, and high liquidity. Another important determinant concerns management having the proper incentives to liquidate: high inside ownership, takeover pressure, and low debt levels. Financial factors thus establish whether a liquidation is profitable, while organizational factors determine whether management chooses to liquidate. The study also finds that many liquidating firm assets are sold to firms operating in the same industry. Returns to liquidating firm shareholders are significantly greater here, rather than when they are sold to firms in a different industry. Moreover, intra-industry liquidations tend to occur in superior performing industries when industry performance is at a peak.


Download Human Resources in the Family Business PDF

Human Resources in the Family Business

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Publisher : Springer
Release Date :
ISBN 10 : 9781137444271
Pages : 219 pages
Rating : 4.4/5 (442 downloads)

Download Human Resources in the Family Business PDF Full Free by Amy M. Schuman and published by Springer. This book was released on 2016-02-02 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will help HR managers and founders/owners develop a formal process within the company and also provide insights from family firms on how to manage sensitive topics ranging from family member compensation; family member appraisal, etc., and serves as a guide to HR managers struggling to get a "seat at the table" in family firms.


Download Valuation for M&A PDF

Valuation for M&A

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Publisher : John Wiley & Sons
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ISBN 10 : 9781119437345
Pages : 496 pages
Rating : 4.7/5 (373 downloads)

Download Valuation for M&A PDF Full Free by Chris M. Mellen and published by John Wiley & Sons. This book was released on 2018-04-16 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determine a company's value, what drives it, and how to enhance value during a M&A Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment. As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a “floor” value for the seller since it by definition represents a value agreed upon by any hypothetical willing and able buyer and seller. But for M&A, it is more important to compute investment value, which is the value of the target company to a strategic buyer (and which can vary with each prospective buyer). Prepare for the sale and acquisition of a firm Identify, quantify, and qualify the synergies that increase value to strategic buyers Get access to new chapters on fairness opinions and professional service firms Find a discussion of Roger Grabowski's writings on cost of capital, cross-border M&A, private cost of capital, intangible capital, and asset vs. stock transactions Inside, all the necessary tools you need to build and measure private company value is just a page away!


Download Risk Behaviour and Risk Management in Business Life PDF

Risk Behaviour and Risk Management in Business Life

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Publisher : Springer Science & Business Media
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ISBN 10 : 9789401729093
Pages : 372 pages
Rating : 4.9/5 (29 downloads)

Download Risk Behaviour and Risk Management in Business Life PDF Full Free by Bo Green and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk behaviour and risk management in business life influence a wide range of fields in which only a very limited amount of research has been undertaken. These topics have often been treated as if they were theoretically and practically isolated from other fields, the so called risk archipelago problem. What is actually needed is another focus, in which the problem of risk is treated as a central theme. The demand for interdisciplinary research means that there is a need for crossing scientific boundaries. In approaching risk problems from a holistic perspective there is also a parallel need for linking the scientific and the business worlds. Researchers must work closely together in concrete multidisciplinary research projects and in co-operation with the industrial world in seeking out and solving research problems of importance. This book contains selected and re-written papers, and key-note speeches presented in a risk-seminar that Stockholm University organised in June 1997. The seminar, in which 200 researchers and practitioners from 26 countries participated, was divided into four main topic areas: Risk Assessment and Credit Management, Psychology in Business Life, Risk Management in Small Firms and Law and Business Risk. In writing this book, the editor invited eight professors from four continents to assist him in introducing the reader to the different and scientific disciplines and in explaining the need for interdisciplinary, multidisciplinary and cross-disciplinary risk research projects. The book consists of eight chapters and the target groups are researchers, doctoral and master students at universities and business people working in the risk management area.


Download Creating Value Through Corporate Restructuring PDF

Creating Value Through Corporate Restructuring

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Publisher : John Wiley & Sons
Release Date :
ISBN 10 : 0471405590
Pages : 516 pages
Rating : 4.1/5 (714 downloads)

Download Creating Value Through Corporate Restructuring PDF Full Free by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2001-08-07 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is a collection of case studies illustrating real-world techniques, implementation, and strategies on corporate restructuring. They examine the numerous companies and trillions of dollars involved in corporate restructuring since the 1980s.


Download Writing a Business Plan PDF

Writing a Business Plan

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Publisher : Taylor & Francis
Release Date :
ISBN 10 : 9781315465807
Pages : 120 pages
Rating : 4.5/5 (658 downloads)

Download Writing a Business Plan PDF Full Free by Ignatius Ekanem and published by Taylor & Francis. This book was released on 2017-07-14 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resourcing new ventures is-all important for entrepreneurs, and creating a successful business plan can be make or break when it comes to attracting investment. Written by an experienced academic and consultant, this book provides a concise guide for producing the optimal business plan. Business plans are vital when it comes to making strategic decisions and monitoring progress. Writing a Business Plan is designed to teach you how to write your business plan without relying on someone else or internet templates. It will take you through each stage of business-plan writing, with chapters on generating ideas; describing business opportunities; drawing a business road map; and considering marketing, financial, operations, HR, legal and risk. The book includes a range of features to assist you, including worked-through examples. This unique book provides a one-stop shop for entrepreneurs and students of entrepreneurship to hone their skills in writing a useful and comprehensive business plan.


Download The Effects of Inflation on Wage Adjustments in Firm-level Data PDF

The Effects of Inflation on Wage Adjustments in Firm-level Data

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ISBN 10 : UOM:35128001859493
Pages : 62 pages
Rating : 4./5 ( downloads)

Download The Effects of Inflation on Wage Adjustments in Firm-level Data PDF Full Free by Erica L. Groshen and published by . This book was released on 1996 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper studies the effects of inflation on wage changes made by firms in a unique thirty-seven-year panel of occupations and employers drawn from the Federal Reserve Bank of Cleveland Community Salary Survey (CSS). Our analysis first identifies two relative prices embedded in wage changes and, second, draws inferences about the costs and benefits of inflation from the adjustments in these relative prices. Typically, firms manage employer-wide wage adjustments (controlling for occupational wage changes) separately from their interoccupational wage changes (controlling for employer wage hikes). Consistent with this observation, we identify large independent employer and occupational components of wage changes in the CSS. Although there is no a priori reason why these adjustments should be altered by inflation (when the average change is subtracted out), we find that variation in both of these terms rises as inflation grows. Guided by institutional wage-setting procedures, we view employers' mean wage hikes as subject to intra-market variations in the speed of adjustment to inflation and forecasting errors. In contrast, we argue that occupational wage movements include a higher concentration of inter-market relative price adjustments. This simple dichotomy, whose robustness we attempt to test, yields two policy-oriented results. First, higher inflation and labor productivity appear to increase the rate of occupational wage adjustments 'grease', although these potential benefits taper off after inflation rises to about 4 percent (assuming 1.5 percent average growth of labor productivity.) Second, potentially inefficient variations in employer wage adjustments ('sand') continue to mount until inflation reaches rates of 7 to 10 percent (again assuming productivity growth of 1.5 percent)"--Federal Reserve Bank of New York web site


Download Could Bankruptcy Reform Help Preserve Small Business Jobs? PDF

Could Bankruptcy Reform Help Preserve Small Business Jobs?

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ISBN 10 : UCSD:31822037818630
Pages : 147 pages
Rating : 4./5 ( downloads)

Download Could Bankruptcy Reform Help Preserve Small Business Jobs? PDF Full Free by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Administrative Oversight and the Courts and published by . This book was released on 2010 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt:


Download Corporate Defense and the Value Preservation Imperative PDF

Corporate Defense and the Value Preservation Imperative

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Publisher : CRC Press
Release Date :
ISBN 10 : 9781315352138
Pages : 316 pages
Rating : 4.2/5 (521 downloads)

Download Corporate Defense and the Value Preservation Imperative PDF Full Free by Sean Lyons and published by CRC Press. This book was released on 2016-09-19 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to finally address the umbrella term corporate defense, and to explain how an integrated corporate defense program can help an organization address both value creation and preservation. The book explores the value preservation imperative, which represents an organization’s obligation to implement a comprehensive corporate defense program in order to deliver long-term sustainable value to its stakeholders. For the first time the reader is provided with a complete picture of how corporate defense operates all the way from the boardroom to the front-lines, and vice versa. It provides comprehensive guidance on how to implement a robust corporate defense program by addressing this challenge from strategic, tactical, and operational perspectives. This arrangement provides readers with a holistic view of corporate defense and incorporates the management of the eight critical corporate defense components. It includes how an organization needs to integrate its governance, risk, compliance, intelligence, security, resilience, controls and assurance activities within its corporate defense program. The book addresses the corporate defense requirement from various perspectives and helps readers to understand the critical interconnections and inter-dependencies which exist at strategic, tactical, and operational levels. It facilitates the reader in comprehending the importance of appropriately prioritizing corporate defense at a strategic level, while also educating the reader in the importance of managing corporate defense at a tactical level, and executing corporate defense activities at an operational level. Finally the book looks at the business case for implementing a robust corporate defense program and the value proposition of introducing a truly world class approach to addressing the value preservation imperative. Cut and paste this link (https://m.youtube.com/watch?v=u5R_eOPNHbI) to learn more about a corporate defense program and how the book will help you implement one in your organization.