The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior

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Total Pages : 60 pages
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Book Synopsis The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior by : Frank R. Lichtenberg

Download or read book The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior written by Frank R. Lichtenberg and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior

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ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior by : Frank R. Lichtenberg

Download or read book The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior written by Frank R. Lichtenberg and published by . This book was released on 1989 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the economic effects of leveraged buyouts (LBOs) using large longitudinal establishment and firm-level Census Bureau data sets linked to a list of LBOs compiled from public data sources. About 5 percent, or 1100, of the manufacturing plants in the sample were involved in LBOs during 1981-86. We find that plants involved in LBOs had significantly higher rates of total factor productivity (TFP) growth than other plants in the same industry. The productivity impact of LBOs is much larger than our previous estimates of the productivity impact of ownership changes in general. Management buyouts appear to have a particularly strong positive effect on TFP. Labor and capital employed tend to decline (relative to the industry average) after the buyout, but at a slower rate than they did before the buyout. The ratio of nonproduction to production labor cost declines sharply, and production worker wage rates increase, following LBOs. LBOs are production-labor-using, nonproduction-labor- saving, organizational innovations. Plants involved in management buyouts (but not in other LBOs) are less likely to subsequently close than other plants. The average R & D-intensity of firms involved in LBOs increased at least as much from 1978 to 1986 as did the average R & D-intensity of all firms responding to the NSF/Census survey of industrial R & D.

The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior

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ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior by : Frank R. Lichtenberg

Download or read book The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior written by Frank R. Lichtenberg and published by . This book was released on 2010 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the economic effects of leveraged buyouts (LBOs) using large longitudinal establishment and firm-level Census Bureau data sets linked to a list of LBOs compiled from public data sources. About 5 percent, or 1100, of the manufacturing plants in the sample were involved in LBOs during 1981-86. We find that plants involved in LBOs had significantly higher rates of total factor productivity (TFP) growth than other plants in the same industry. The productivity impact of LBOs is much larger than our previous estimates of the productivity impact of ownership changes in general. Management buyouts appear to have a particularly strong positive effect on TFP. Labor and capital employed tend to decline (relative to the industry average) after the buyout, but at a slower rate than they did before the buyout. The ratio of nonproduction to production labor cost declines sharply, and production worker wage rates increase, following LBOs. LBOs are production-labor-using, nonproduction-labor- saving, organizational innovations. Plants involved in management buyouts (but not in other LBOs) are less likely to subsequently close than other plants. The average Ramp;D-intensity of firms involved in LBOs increased at least as much from 1978 to 1986 as did the average Ramp;D-intensity of all firms responding to the NSF/Census survey of industrial Ramp;D.

The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior

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ISBN 13 :
Total Pages : pages
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Download or read book The Effects of Leveraged Buyouts on Productivity and Related Aspects of Firm Behavior written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effects of Leveraged Buyoutson Productivity and Related Aspects of Firm Behavior

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)

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Book Synopsis The Effects of Leveraged Buyoutson Productivity and Related Aspects of Firm Behavior by : Frank R. Lichtenberg

Download or read book The Effects of Leveraged Buyoutson Productivity and Related Aspects of Firm Behavior written by Frank R. Lichtenberg and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Leveraged Management Buyouts

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Publisher : Beard Books
ISBN 13 : 9781587981388
Total Pages : 292 pages
Book Rating : 4.9/5 (813 download)

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Book Synopsis Leveraged Management Buyouts by : Yakov Amihud

Download or read book Leveraged Management Buyouts written by Yakov Amihud and published by Beard Books. This book was released on 2002 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at a conference held at the Leonard N. Stern School of Business, New York University, on May 20, 1988, and sponsored by the Salomon Brothers Center for the Study of Financial Institutions. The 1989 edition of this proceedings volume was published by Dow-Jones-Irwin. Academics, legis

Hedge Fund Activism

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Publisher : Now Publishers Inc
ISBN 13 : 1601983387
Total Pages : 76 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Hedge Fund Activism by : Alon Brav

Download or read book Hedge Fund Activism written by Alon Brav and published by Now Publishers Inc. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.

Value Creation in Leveraged Buyouts

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Publisher : Springer Science & Business Media
ISBN 13 : 3835093290
Total Pages : 490 pages
Book Rating : 4.8/5 (35 download)

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Book Synopsis Value Creation in Leveraged Buyouts by : Nicolaus Loos

Download or read book Value Creation in Leveraged Buyouts written by Nicolaus Loos and published by Springer Science & Business Media. This book was released on 2007-11-05 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a dataset of over 3,000 leveraged buyout transactions, including performance data, Nicolaus Loos analyses how financial investors create economic value through their investments. He shows that various exogenous factors with respect to timing, industry, public market as well as deal specific factors can statistically be related to a buyout deal's performance. He also provides evidence of a "GP effect" in leveraged buyouts, i.e. that certain characteristics of a Private Equity firm and its investment professionals as well as a firm's buyout strategy approach and certain buyout target characteristics are important success factors.

Bibliography of Agriculture

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ISBN 13 :
Total Pages : 944 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Bibliography of Agriculture by :

Download or read book Bibliography of Agriculture written by and published by . This book was released on 1990 with total page 944 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Research in Accounting Regulation

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Publisher : Elsevier
ISBN 13 : 0080468896
Total Pages : 336 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Research in Accounting Regulation by : Gary Previts

Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2007-01-24 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies; including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board [US], the Financial Accounting Standards Board [US] and the International Accounting Standards Board. These entities and self-regulatory organizations such as U.S. State Societies of CPAs and the American Institute of Certified Public Accountants and equivalent and emerging national bodies that exist in most developed and developing countries, are among the emerging entities which attempt to coordinate the activities of professional accountants among sovereign nations. It is important for academics, students, practitioners, regulators and researchers to consider and study the role and relationship of such bodies with the practice and content of our discipline. Main feature examines developments in accounting regulation Papers provide an international perspective on accounting and finance issues Volume 19 contains main papers, research reports, a feature, capsule commentary, perspectives, and book reviews

Center for Economic Studies Discussion Paper

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ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.:/5 (319 download)

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Download or read book Center for Economic Studies Discussion Paper written by and published by . This book was released on 1988 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Oxford Handbook of Corporate Law and Governance

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Publisher : Oxford University Press
ISBN 13 : 0191061395
Total Pages : 900 pages
Book Rating : 4.1/5 (91 download)

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Book Synopsis The Oxford Handbook of Corporate Law and Governance by : Jeffrey N. Gordon

Download or read book The Oxford Handbook of Corporate Law and Governance written by Jeffrey N. Gordon and published by Oxford University Press. This book was released on 2018-04-26 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.

Handbook of Corporate Finance

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Publisher : Edward Elgar Publishing
ISBN 13 : 1800373899
Total Pages : 709 pages
Book Rating : 4.8/5 (3 download)

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Book Synopsis Handbook of Corporate Finance by : David J. Denis

Download or read book Handbook of Corporate Finance written by David J. Denis and published by Edward Elgar Publishing. This book was released on 2024-02-12 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expertly surveying the realm of corporate finance, this adroitly-crafted Handbook offers a wealth of conceptual analysis and comprehensively outlines recent scholarly research and developments within the field. It not only delves into the theoretical dimensions of corporate finance, but also explores its practical implications, thereby bridging the gap between these distinct strands.

International Handbook on the Economics of Integration

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Publisher : Edward Elgar Publishing
ISBN 13 : 1849806152
Total Pages : 497 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis International Handbook on the Economics of Integration by : Miroslav N. Jovanović

Download or read book International Handbook on the Economics of Integration written by Miroslav N. Jovanović and published by Edward Elgar Publishing. This book was released on 2011-01-31 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'International Handbook of Economic Integration edited by Miroslav Jovanovi provides timely and rich academic contributions to considerations of the widest array of integration-related issues. European integration has been providing an inspiration to a number of academics and researchers. The Handbook is a recognition of the dynamic and strong solidarity of the European integration. At the same time, the European Union often provided an example for integration schemes throughout the world which spread enormously since the mid-1990s. Leading experts from all continents contributed to this Handbook which will be a valuable input into academic and policy-making discussions and actions.'– José Manuel Barroso, President of the European Commission'Miroslav Jovanovi 's publication represents a rich contribution to the complex issue of regional integration, its benefits, its shortcomings, and its relationship with multilateral trade opening. It sheds light over an issue which is the subject of intense discussions in trade circles.'– Pascal Lamy, Director-General of the WTO'Much has been written on trade agreements as a mechanism to integrate the markets of two of more countries – often inspired by the European example. In recent years, attention has increasingly focused on the importance of economic geography as a determinant of industrial location. This book combines the two strands of analysis, bringing together leading experts in the fields of economic geography and international trade. The result is an outstanding compilation of papers that illuminate how policies and economic forces affect the location of economic activity in an integrated Europe.'– Bernard Hoekman, Director, The World Bank, US 'The open multilateral trading system is a tremendous success of the past half century, and has contributed greatly to the world's unprecedented rate of economic growth. Over the past two decades however, preferential trading arrangements have proliferated, raising questions as to how compatible they are with the open multilateral system, and what policies might be adopted to improve outcomes. The essays in this volume detail the emergence of PTAS and provide comprehensive and up-to-date analyses of the state of play of preferential arrangements in all regions of the world. The volume will provide a useful reference for all those wanting to understand existing preferential arrangements and their role in the international economy today.'– Anne O. Krueger, Johns Hopkins University and Stanford University, US 'Economic integration is a complex and multifaceted giant, with a myriad aspects ranging from regional and global concentration and dispersal of economic activity to social and political consequences for individuals and communities in developed and developing countries alike. This landmark, three volume collection of chapters by leading authors, drawn from many fields, is a worthy and timely contribution to the analysis of a phenomenon with profound implications for the future world economy - and its governance.'– James Zhan, Director, Investment & Enterprise Division, UNCTADWith this Handbook, Miroslav Jovanovi has provided readers with both an excellent stand-alone original reference book as well as an integral part of a comprehensive three-volume set. This introduction into a rich and expanding academic and practical world of international economic integration also provides a theoretical and analytical framework to the reader, presenting select analytical studies and encouraging further research. International Handbook on the Economics of Integration, Volume III covers three broad themes: factor mobility (transnational corporations and labour migration); agriculture and environment; and quantitative studies of integration effects. A removal of barriers for the mobility of factors in certain integration arrangements among countries has an impact on the mobility of capital, firms and individuals within the group. Various aspects of this factor mobility are analysed in eight detailed chapters. The second theme of the Handbook is devoted to agriculture and environment. This is of great global relevance as the Common Agricultural Policy of the EU has been a bone of contention in international relations over several decades. Finally, seven quantitative studies of the effects of integration attempt to measure various potential benefits of regional integration efforts.Contributors to this major reference work include eminent authors, some of whom contributed to the creation of economic integration theory from the outset. The authors not only survey the literature, but also present their own arguments and new ideas in order to offer a new perspective, as well as discussing the issues they believe are essential in the field. Each of the insightful chapters is approachable not only to graduate students, scholars, researchers and policymakers, but also to advanced undergraduate students.

MARKETS AND DIVERSITY

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Publisher : Harvard University Press
ISBN 13 : 0674042891
Total Pages : 370 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis MARKETS AND DIVERSITY by : Sherwin ROSEN

Download or read book MARKETS AND DIVERSITY written by Sherwin ROSEN and published by Harvard University Press. This book was released on 2009-06-30 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: A staunch neoclassical economist, Rosen drew inspiration from Adam Smith's Wealth of Nations, particularly his theory of compensating wage differentials, which Rosen felt was central to all economic problems involving product differentiation and spatial considerations. The main theme of his collection is how markets handle diversity, including the determination of value in the presence of diversity, the allocation of idiosyncratic buyers to specialized sellers, and the effects of heterogeneity and sorting on inequality.

Microeconomics 1989

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Publisher : Brookings Institution Press
ISBN 13 : 9780815705826
Total Pages : 438 pages
Book Rating : 4.7/5 (58 download)

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Book Synopsis Microeconomics 1989 by : Martin N. Baily

Download or read book Microeconomics 1989 written by Martin N. Baily and published by Brookings Institution Press. This book was released on 1993-12-01 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost thirty years, Brookings Papers on Economic Activity (BPEA) has provided academic and business economists, government officials, and members of the financial and business communities with timely research of current economic issues. Contents Include: Articles BART VAN ARK and DIRK PILAT Productivity Levels in Germany, Japan, and the United States: Differences and Causes MARTIN NEIL BAILY Competition, Regulation, and Efficiency in Service Industries ROBERT Z. LAWRENCE and MATTHEW J. SLAUGHTER International Trade and American Wages in the 1980s: Giant Sucking Sound or Small Hiccup? RICHARD E. CAVES and MATTHEW B. KREPPS Fat: The Displacement of Nonproduction Workers from U.S. Manufacturing Industries BRONWYN H. HALL Industrial Research During the 1980s: Did the Rate of Return Fall? PAUL M. ROMER Implementing a National Technology Strategy with Self-Organizing Investment Boards

The Determinants of U.S. Intra-industry Trade

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ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis The Determinants of U.S. Intra-industry Trade by : Frederic M. Scherer

Download or read book The Determinants of U.S. Intra-industry Trade written by Frederic M. Scherer and published by . This book was released on 1990 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: