Financial Management articles from March 1995

Financial Management archives from March 1995

An empirical examination of prepackaged bankruptcy.
March 22, 1995... Prepackaged bankruptcy is an increasingly popular means of restructuring financially distressed firms. A prepackaged bankruptcy (a "prepack") calls for a firm to negotiate a reorganization plan with its creditors, and possibly solicit acceptances...

Compensation policy and the investment opportunity set. (includes appendix)
March 22, 1995... The problem of motivating managers of large, publicly held corporations to make decisions consistent with shareholder wealth maximization is of considerable interest to both financial managers and financial economists. Although many researchers...

Corporate debt maturity policy and investor tax-timing options: theory and evidence. (includes appendices)
March 22, 1995... The effect of debt maturity structure on the value of the firm is a central issue in the corporate finance literature. The implications of debt maturity for corporate taxes (Boyce and Kalotay (1979), Brick and Ravid (1985, 1991), and Kane,...

Capital structure and ownership distribution of tender offer targets: an empirical study.
March 22, 1995... The purpose of this study is to examine empirically the predictions of theoretical models on the role of leverage and equity ownership in takeover decisions and outcomes. Our focus is on the extent to which these factors are not only related to...

Determinants of the choice of the hostile takeover mechanism: an empirical analysis of tender offers and proxy contests.
March 22, 1995... Tender offers and proxy fights determine who possesses the right to manage corporate resources. In a tender offer, the bidder makes a direct offer to the firm's shareholders to purchase their shares and consequently to capture their voting...