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细细解说投资银行:投行的逻辑-第8部分
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11。3我国商业银行参与并购交易的几点建议(3)
Carter; R。 B。; and S。 Manaster; 1990。 〃Initial Public Offerings and Underwriter Prestige〃; Journal of Finance 45(4); 1045…1068。
Chatterjee; S。; 1986。 “Types of Synergy and Economic Value: The Impact of Acquisitions on Merging and Rival Firms”; Strategic Management Journal 7 (2); 119…139。
Chemmanur; T。 and Fulghieri; P。; 1994。 “Investment Bank Reputation; Information Production; and Financial Intermediation”; Journal of Finance; 49; 57…59。
ment; R。 and G。 William Schwert; 1995; “Poison or Placebo? Evidence on the Deterrence and Wealth Effects of Modern Antitakeover Measures”; Journal of Financial Economics 39; 3…43。
Corwin; S。 and J。 H。 Harris; 2001。 〃The Initial Listing Decisions of Firms That Go Public〃; Financial Management; Spring 2001; 35…55。
Cotter; ; Zenner; M。; 1994; How Managerial Wealth Affects the Tender Offer Process; Journal of Financial Economics 35; 63…97。
Daley; L。; Subramaniam; C。; 1995; Free Cash Flow; Golden Parachutes; and the Discipline of Takeover Activity; Working Paper; University of Alberta; Edmonton; AB。
Diamond; D。 W。; 1991; 〃Monitoring and Reputation: The Choice Between Bank Loans and Direct Placed Debt;〃 Journal of Political Economy 99(4); 689…721。
Dodd; P。 and R。 Ruback; 1977; 〃Tender Offers and Stockholder Returns; An Empirical Analysis〃; Journal of Financial Economics 5; 351…373。
Dunbar; C。; 1998; “The Choice between Firm…mitment and Best…efforts Offering Methods in IPOs: the Effect of Unsuccessful Offers”; Journal of Financial Intermediation 7; 60…90。
Dunbar; G。 C。; 2000; “Factors Affecting Investment Bank Initial Public Offering Market Share〃;Journal of Financial Economics 55; 3…41。
Eccles; D。; and Crane; D。; 1988; “Doing Deals: Investment Banks at Work”; Harvard Business School Press; Boston; MA。
Eckbo; ; 1983; 〃Horizontal Mergers; Collusion and Stockholder Wealth;〃 Journal of Financial Economics; 11; 241…273。
Eckbo; E。; 1992。 〃Mergers and the Value of Antitrust Deterrence〃。 Journal of Finance 47; 1005…1029。
Falaschetti; D。; 2002; 〃Golden Parachutes: Credible mitments or Evidence of Shirking?〃; Journal of Corporate Finance 8; 159…178。
Fama; Eugene F。; 1980; 〃Agency Problems and Theory of the Firm〃; Journal of Political Economy; 88; 288…307。
Fishman; M。; 1989; 〃Preemptive Bidding and the Role of the Medium of Exchange in Acquisitions〃; Journal of Finance 44; 41…58。
Franks; J。; R。 Harris and S。 Titman; 1991; 〃The Postmerger Share…Price Performance of Acquiring Firms〃; Journal of Financial Economics; 29; 81…96。
Ghosh; A。; 2001; 〃 Does Operating Performance Really Improve Following Corporate Acquisitions?〃; Journal of Corporate Finance 7; 151…178。
Ghosh; A。; Ruland; W。; 1998; 〃Managerial Ownership; Method of Payments for Acquisitions; and Executive Job Retention;〃 Journal of Finance 53; 785…798。。 最好的txt下载网
11。3我国商业银行参与并购交易的几点建议(4)
Hansen; R。 and P。 Torregrosa; 1992; 〃Underwriter pensation and Corporate Monitoring〃; Journal of Finance; Vol。 XLVII; No。 4。; 1537…1555。
Hansen; G。 R。; 1987; 〃 A Theory for the Choice of Exchange Medium in Mergers and Acquisitions〃; Journal of Business; Vol。 60; ; 75…95。
Hanson; R。 and M。 H。 Song; 2000; 〃Managerial Ownership; Board Structure; and the Division of Gains in Divestitures〃; Journal of Corporate Finance; 6; 55…70。
Hart; O。 and B。 Holmstrom; 1986; 〃The Theory of Contracts; Unpublished Working Paper Massachusetts Institute of Technology; Cambridge; MA)。
Hartzell; J。; E。 Ofek and D。 Yermack; 2000; 〃Personal Benefits Obtained by CEOs Whose Firms are Acquired〃; Working paper。
Healy; Paul; Krisha Palepu; and Richard Ruback; 1990; Do Mergers Improve Corporate Performance? Working Paper; Sloan School; Massachusetts Institute of Technology。
Healy; ; Palepu; ; Ruback; ; 1992; 〃Does Corporate Performance Improve after Mergers?〃; Journal of Financial Economics 31; 135…175。
Hite; ; Owers; J。; Rogers; R。; 1987。 The Market for Interfirm Asset Sales; Partial Sell…offs and Total Liquidations; Journal of Financial Economics 18; 229…252。
Hunter; ; 1987。 “On Investment Banking and Merger Market Efficiency;”Federal Reserve Bank of Atlanta Walking Paper 87…7; October; 1987。
Hunter; ; Julapa; 2003。 “An Analysis of Advisor Choice; Fees; and Effort in Mergers and Acquisitions”; Review of Financial Economics 12; 65…81。
James; C。; 1992; “Relationship…specific Assets and the Pricing of Underwriter Services”; Journal of Finance 47; 1865…1885。
Jarrell; ; and ; 1989。 〃The Returns to Acquiring Firms in Tender Offers: Evidence from Three Decades〃; Financial Management; Autumn 1989; 12…19。
Jensen; M。 and J。 Warner; 1988; 〃The Distribution of Power among Corporate Managers; Shareholders; and Directors〃; Journal of Financial Economics; 20; 3…24。
Jensen; C。 M。 and Ruback; 1983。 〃The Market for Corporate Control。 The Scientific Evidence〃。 Journal of Financial Economics 11; 5…50。
Johannesson; Henrik; 2000; “Hostile Tender Offers and Anti…takeover Defense —A parative Analysis based on a Law and Finance Approach”; Working Paper; University of Lund。
Johnson; M。 J。 and R。 E。 Miller; 1988; 〃Investment Banker Prestige and Underpricing of Initial Public Offerings〃; Financial Management; Summer 1988; 19…29。
Kaplan; N。 S。 and Weisbach S。 M。; 1992; 〃The Success of Acquisitions: Evidence from Divestitures〃; Journal of Finance; Vol。 XLVII; ; 107…138。
Kim; ; and McConnell; J。; 1977。 〃Corporate Mergers and the Co…Insurance of Corporate Debt。〃 Journal of Finance 32; 349…365。
Kohers; N。 and T。 Kohers; 2001; 〃Takeovers of Technology Firms: Expectations vs。 Reality〃; Financial Management; Autumn 2001; 35…54。。 最好的txt下载网
11。3我国商业银行参与并购交易的几点建议(5)
Kosnik; D。 Rita and D。 L。 Shapiro; 1997; “Agency Conflicts between Investment Banks and Corporate Clients in Merger and Acquisition Transactions: Causes and Remedies〃; Academy of Management Executive; Vol。 11
Kumar; ; ; 1993; 〃Asymmetric Information; Investment Banking Contracts and the Certification Hypothesis〃; Journal of Banking and Finance; 17; 1993; 117…129。
Langetieg; C。 T。; 1978; 〃An Application of A Three…factor Performance Index to Measure Stockholders Gains from Merger〃; Journal of Financial Economics; 6; 1978; 365…383。
Lefanowicz; E。 C。; J。 R。 Robinson; and R。 Smith; 2000; 〃Golden Parachutes and Managerial Incentives in Corporate Acquisitions: Evidence from the 1980s and 1990s〃; Journal of Corporate Finance; 6; 215…239。
Lewellen; O。 W。; 1971。 〃 A Pure Financial Rationale for the Conglomerate Merger。〃 Journal of Finance 26; 521…537。
Lewellen; W。; C。 Loderer; and A。 Rosenfeld; 1985; 〃Merger Decisions and Executive Ownership in Acquiring Firms;〃 Journal of Accounting and Economics; 7; 209…231。
Livingston; M。 and R。 Miller; 2000; 〃Investment Bank Reputation and the Underwriting of Nonconvertible Debt〃; Financial Management; Summer 2000; 21…34。
Loderer; C。 and K。 Martin; 1992; 〃Postacquisition Performance of Acquiring Firms〃; Financial Management; Autumn 1992; 69…79。
Loughran; T。; Ritter; ; 1995; “The New Issues Puzzle”; Journal of Finance 50; 23…51。
Loughran; T。; Ritter; ; 1997; 〃The Operating Performance of Firms Conducting Seasoned Equity Offerings〃; Journal of Finance 52; 1823…1850。
Loughran; T。 and J。 R。 Ritter; 2002; 〃Why Don't Issuers Ger Upset about Leaving Money on the Table in IPOs?〃; The Review of Financial Studies; 15; 413…443。
Loughran; T。 and A。 M。 VIJH; 1997; 〃Do Long…term Shareholders Benefit from Corporate Acquisitions?〃; The Journal of Finance; Vol。 LII; ; 1765…1790。
Machlin; J。; Choe; H。; Miles; ; 1983; The Effects of Golden Parachutes on Takeover Activity; Journal of Law and Economics; 36; 861…876。
Malatesta; H。 P。; 1983; 〃The Wealth Effect of Merger Activity and The Objective Functions of Merging Firms〃; Journal of Financial Economics; 11; 155…181。
Manry; D。 and K。 Nathan; 1999; 〃Greenmail Premia; Board position and Management Shareholdings〃; Journal of Corporate Finance; 5; 369…382。
Martin; Kenneth; and John McConnell; 1991; 〃Corporate Performance; Corporate Takeovers; and Management Turnover〃; Journal of Finance 46; 671…687。
McLaughlin; R。; A。 Safieddine and G。 K。 Vasudevan; 2000; 〃Investment Banker Reputation and the Performance of Seasond Equity Issuers〃; Financial Management; Spring 2000; 96…110。
McLaughlin; M。 R。; 1996; 〃Adverse Contract Incentives and Investment Banker Reputation: Target Firm Tender Offer Fees〃; The Journal of Financial Research; XIX; 135…156。
11。3我国商业银行参与并购交易的几点建议(6)
McLaughlin; M。 R。; 1990; 〃Investment…banking Contracts in Tender Offers; an empirical analysis〃; Journal of Financial Economics; 28; 209…232。
McLaughlin; M。 R。; 1992; 〃Does the Form of pensation Matter?〃; Journal of Financial Economics; 32; 223…260。
Megginson; W。; Weiss。; K。; 1991; “Venture Capitalist Certification in Initial Public Offerings”;Journal of Finance 46; 879…903。
Merton; R。; Womack; K。; 1999; “Conflict of Interest and the Credibility of Underwriter Analyst Remendations”; Review of Financial Studies 12; 653…686。
Michael。 A。; Shaked。 L。; Lee。 Y。 T。; 1991; An Evaluation of Investment Banker Acquisition Advice: The Shareholders’ Perspective。 Financial Management 20; 40…49。
Michaely; R。; and ; 1994; 〃The Pricing of Initial Public Offerings: Test of Adverse…Selection and Signaling Theories〃; The Review of Financial Studies 7(2); 279…319。
Mikkelson; Wayne H。 and M。 Megan Partch; 1989。 〃Managers' Voting Rights and Corporate Control〃; Journal of Financial Economics 25; 263…290。
Mitchell; Mark and Jeffrey Netter; 1989; Triggering the 1987 Stock Market Crash: Anti…takeover Provisions in the Proposed House Ways and Means Tax Bill? Journal of Financial Economics 24; 37…68。
Mitchell; Mark and Kenneth Lehn; 1990。 〃Do Bad Bidders Bee Good Targets? Journal of Political Economy 98; 372…398。
Mitchell; M。; Mulherin; H。; 1996。 〃The Impact of Industry Shocks on Takeover and Restructuring Activity〃。 Journal of Financial Economics 41; 193…229。
Morck; Randall; Andrei Shleifer; and Robert W。 Vishny; 1988。 〃Characteristics of Targets of Hostile and Friendly Takeovers; in Alan J。 Auerbach ed。; Corporate Takeovers: Causes and Consequences; University of Chicago Press; Chicago; IL。
Mulherin; J。 H。 and A。 Boone; 2000; 〃paring Acquisitions and Divestitures〃; Journal of Corporate Finance; 6; 117…139。
Myers; S。; Majluf; N。; 1984; 〃Corporate Financing and Investment Decisions When Firms Have Information that Investors Do Not Have〃; Journal of Financial Economics 13; 187…221。
Nanda; V。; Yun; Y。; 1997。 Reputation and Financial Intermediation: An Empirical Investigation of the Impact of IPO Mispricing on Underwriter Market Value。 Journal of FinancialIntermediation 6; 39…63。
Palepu; Krishna G。; 1986; Predicting Takeover Targets: A Methodological and Empirical Analysis; Journal of Accounting and Economics 8; 3…35。
Park; S。 and ; 1995; “Employee Stock Ownership Plans; Firm Performance; and Monitoring by Outside Blockholders”; Financial Management (Winter); 52…56。
Rau; ; 1998; 〃Glamour; Value and the Post…acquisition Performance of Acquiring firms〃; Journal of Financial Economics; 49; 223…253。
Rau; R。 P。; 2000; 〃Investment Bank Market Share; Contingent Fee Payments; and the Performance of Acquiring Firms〃; Journal of Financial Economics; 56; 293…324。 。。
11。3我国商业银行参与并购交易的几点建议(7)
Ritter; J。; 1987; “The Cost of Going Public”; Journal of Financial Economics 19; 269…281。
Roll; R。; 1986; “The Hubris Hypothesis of Corporate Takeovers;” Journal of Business; 59; 197… 216。
Rosenstein; S。; N。 Rangan; W。 Davidson III; 1992; “Board position and Shareholder Wealth: The Case of Management Buyouts”; Financial Management 21 Spring; 58…72。
Schipper; K。 and R。 Thompson; 1983; 〃Evidence on the capitalized value of merger activity for acquiring firms〃; Journal of Financial Economics; 11; 85…119。
Scholes; M。; and M。 Wolfson; 1989; “Decentralized Investment Banking and the Capital Acquisition Process;” Journal of Financial Economics; 24; 7…35。
Servaes; H。; 1991; 〃Tobin's Q a
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