منابع مشابه
The Performance of Venture-Backed IPOs in Germany: Exit Strategies, Lock-up Periods, and Bank Ownership
The objective of this paper is to investigate the stock price performance of Initial Public Offerings (IPOs) in Germany. In the empirical analysis we include 305 firms that went public at the "Neuer Markt", the German stock market for growth companies, during the period from 1998 to 2001. Of special interest is the performance of venture-backed IPOs and here especially the ones in which the ven...
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Liquid assets are critical for banking operations. They guarantee avoiding liquidity risk and widens managerial decision options to invest in emerging profitable projects; however, holding extra liquidity entails opportunity costs. Accordingly, empirical literature does not provide a conclusive relationship between liquidity and profitability. The purpose of this research is to analyze the asym...
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We develop a model of insider lending in which a borrower can give incentives to a bank manager to misuse his right of control by extending a loan at favorable rates to the borrower at the expense of the equity value of the bank. The model explains why insider loans are often made to borrowing firms that are also large shareholders of the bank. Although in principal every borrower could bribe t...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.1818718