Browsing FGV EPGE - Seminários de Pesquisa Econômica by Author "Novaes, Walter"
Now showing items 1-6 of 6
-
Financial distress as a collapse of incentive scheme
1993-05-05This paper explaina why workers lack motivation near bankruptcy, why they tend to leave companies in financiai distreas, and why thoae who remam require higher compensation. Theae indirect costa of financiai diatresa adie ... -
Managerial turnover and leverage under a takeover threat
2000-08-31How do shareholders perceive managers who lever up under a takeover threat? Increasing leverage conveys good news if it reflects management's ability to enhance value. It conveys bad news, though, if inefficient managers ... -
Market timing as a motive for IPOs: evidence from IPOs of Japanese keiretsu firms
1997-08-28This paper examines the relevance of market timing as a motive for initial public offerings (IPOs) by comparing IPOs of firms that are members of Japanese keiretsu industrial groups with IPOs of independent Japanese firms. ... -
Multiple large shareholders in corporate governance
1999-07-08Large shareholders of firms with majority bIocks are often at the heIm of their companies and do not necessarily have the same interests as minority shareholders. We show that bargaining problems Ied by the presence of ...
