Corporate Finance and Governance – serie
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18 produkter
Determinants of Credit Spreads
An Empirical Analysis for the European Corporate Bond Market
Av Arne Wilkes
Inbunden, 2011
415 kr
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Credit spreads express how markets evaluate the riskiness of corporate bonds compared to risk-free investments. Since credit spreads have been highly volatile especially during the last decade it is important for academics and practitioners alike to understand the dynamic interdependencies between …
Creating and Governing an Integrated Market for Retail Banking Services in Europe
A Conceptual-Empirical Study of the Role of Regulation in Promoting a Single Euro Payments Area
Inbunden, 2011
915 kr
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The creation of the Economic and Monetary Union (EMU) has accelerated the harmonization process of regulation and governance in Europe. However, the integration of fragmented retail banking markets still represents a difficult task for regulators. This book investigates the role of EU policy in …
Financial Return Risk and the Effect on Shareholder Wealth
How M&A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return Risk- A Compendium of Five Empirical Studies across Selective Industries
Inbunden, 2012
769 kr
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This dissertation comprises five studies analyzing daily stock returns of listed firms. Studies one and two shed light on corporate diversification through M&A and how related risk dynamics affect shareholder wealth. Carrying over the risk analysis methodology ‘GARCH’ to external events in studies …
Mergers and Acquisitions in the Global Brewing Industry
A Capital Market Perspective
Av Ramit Mehta, Dirk Schiereck
Inbunden, 2012
917 kr
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This publication analyzes three individual corporate finance-related research topics on mergers and acquisitions in the global brewing industry. The first two studies investigate the short and long-term share price reactions of acquirer and rival companies. The third study assesses the immediate …
Risk-Adjusted Performance and Bank Governance Structures
Inbunden, 2012
769 kr
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This dissertation comprises four essays investigating the impact of bank governance structures on performance, risk, and stability. The first three studies analyze financial expertise of supervisory board members as a governance instrument: The first study focuses on the extent to which supervisory …
Minority Shareholder Monitoring and German Corporate Governance
Empirical Evidence and Value Effects
Inbunden, 2013
439 kr
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This book comprises three studies on minority shareholder monitoring in Germany. Mandatory disclosure requirements have increased transparency. An analysis of the information that is publicly available is presented, regardless of the size of the target corporation. The second essay in the form of …
Mergers and Acquisitions in the Energy Sector
The Impact of Synergy Disclosures on Shareholder Wealth and Operating Performance
Inbunden, 2013
537 kr
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The study analyzes the impact of voluntary synergy disclosures at the M&A announcement on M&A transactions in the European as well as in the US energy sector. Thereby, not only is the capital market perspective considered on both a long- and short-term horizon, but the operational point of view is …
Pharma M&A versus alliances and its underlying value drivers
Are M&A or alliances the right therapy for an ailing pharmaceutical industry?- A capital market perspective
Av Heiko Schön
Inbunden, 2015
755 kr
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From a capital market perspective, the author analyzes Merger and Acquisitions transactions (M&A) and in-licensings in the pharmaceutical industry between 1998 and 2012. Utilizing the event study methodology, the volume shows that M&A experiences significant, negative cumulative average abnormal …
Bank Governance Structures and Risk Taking
Häftad, 2015
739 kr
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The book sheds light on two closely related and highly relevant governance themes: the composition of supervisory boards and financial expertise as well as ownership structure. The author focuses on the financial expertise of supervisory boards and its impact on performance and risk. He analyses …
Valuation and Value Creation of Insurance Intermediaries
Av Claudia Max
Inbunden, 2016
929 kr
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The book offers a comprehensive analysis of insurance intermediaries from a capital markets perspective. It presents an up-to-date market perspective, drawing the attention to the important trends and developments in the industry and recommends strategies to secure future growth. Further, it offers …
Bank mergers and acquisitions in the Asia-Pacific region
An investigation of the shareholder wealth effects of the financial sector consolidation and its impact on the acquirer’s cost of debt
Häftad, 2015
697 kr
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This book offers a comprehensive analysis of the shareholder wealth effects of the financial sector consolidation in the Asia-Pacific region and its impact on the acquirer’s cost of debt. By not only examining the capital market reactions to the institutions directly involved in M&A transactions, …
Analyzing Wealth Effects for Bondholders
New Insight on Major Corporate Events from the Debtholders’ Perspective
Av Daniel Maul
Häftad, 2016
755 kr
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Despite the growing importance of funds through corporate bonds, most investigations on the short-term effects of certain events on firm value are only conducted for stocks. Thus, research provides an incomplete view on how firm value is truly affected. The author fills this gap and focuses his …
Finanzwirtschaftliche Erfolgsanalyse Deutscher Stadtwerke
Av Frank Pieper, Dirk Schiereck
Inbunden, 2016
1046 kr
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Das Buch analysiert die wirtschaftliche Entwicklung deutscher Stadtwerke seit Beginn der Liberalisierung und identifiziert deren zentrale Erfolgsfaktoren. Es zeigt die historische Entwicklung und heutige Rolle der Stadtwerke auf, gewährt Einblicke in ihr umfangreiches Leistungsspektrum und …
Directors’ Dealings and Insider Trading in Germany
An Empirical Analysis
Av Patrick Ams, Dirk Schiereck
Inbunden, 2010
580 kr
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Directors’ Dealings and Insider Trading are well-known patrons to both, the academic literature and the financial press. While directors’ dealings have been regulated in the US and many other countries, the German legislator tightened only a few years ago trading rules for insiders and imposed in …
Bankerfolg Und Akquisitionen
Aktuelle Erkenntnisse Zur Konsolidierung Und Restrukturierung Der Finanzindustrie
Av Dirk Schiereck, Martin Setzer
Inbunden, 2011
649 kr
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Fusionen in der Finanzindustrie befinden sich wieder im Aufwärtstrend. Neben einem attraktiven makroökonomischen Umfeld werden insbesondere die strengeren aufsichtsrechtlichen Bestimmungen und Eigenmittelanforderungen die Konsolidierungsaktivitäten verstärken. Dabei gerät ein Stück weit in …
Value Creation of Corporate Restructuring
A Market Cycle and Industry View
Av Ulrich Erxleben, Dirk Schiereck
Inbunden, 2015
505 kr
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The study offers a contribution to the debate about shareholder wealth creation following corporate restructuring transactions. Including market cycle and industry factors, it provides an analysis of merger and acquisition (M&A) and corporate divestiture success between 1989 and 2008 in Europe. The …
Erklaerungsansaetze fuer NAV-Spreads und deren Implikationen fuer das Management von REITs
Auf Basis einer empirischen Untersuchung des pan-EU-REIT-Marktes
Av Michael Müller, Dirk Schiereck
Häftad, 2015
1039 kr
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Dieses Buch beschäftigt sich mit dem Problem des Auseinanderfallens von Aktienpreis und Net Asset Value (NAV) bei Real Estate Investment Trusts (REITs). Zur Ursachenanalyse differenziert der Autor dieses als «NAV-Spread» bekannte Phänomen erstmalig in drei Hauptkomponenten. Diese verdichtet er zu …
Auswirkungen gesetzlicher Neuerungen und politischer Unsicherheit auf die Energiewirtschaft
Eine Untersuchung aus Kapitalmarktsicht
Av Christopher Welkoborsky, Dirk Schiereck
Inbunden, 2018
1023 kr
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Wie kaum ein zweites Politikressort rückte die Energiepolitik und damit die Energiewirtschaft in den vergangenen Jahrzehnten in den Fokus politischer und medialer Aufmerksamkeit. Beispielsweise durch die Begrenzung zulässiger Schadstoffemissionen u.a. im Rahmen internationaler Abkommen oder durch …
