Zobrazeno 1 - 10
of 37
pro vyhledávání: '"Paolo Fulghieri"'
Autor:
Paolo Fulghieri, David L. Dicks
Publikováno v:
The Review of Financial Studies. 34:1236-1279
We develop a theory of innovation waves, investor sentiment, and merger activity based on Knightian uncertainty. Uncertainty-averse investors are more optimistic on an innovation when they can make contemporaneous investments in multiple uncertain pr
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::32c7d735d4cadca3a6964d2e1d321cee
https://doi.org/10.1093/rfs/hhaa065
https://doi.org/10.1093/rfs/hhaa065
Publikováno v:
Review of Finance. 24:961-996
We study the classical problem of raising capital under asymmetric information. Following Myers and Majluf, we consider firms endowed with assets in place and riskier growth opportunities. When asymmetric information is concentrated on assets in plac
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::8ec2ba98ecc854322b13bf3aa0d8007c
https://doi.org/10.1093/rof/rfaa005
https://doi.org/10.1093/rof/rfaa005
Autor:
Paolo Fulghieri, David L. Dicks
Publikováno v:
SSRN Electronic Journal.
We examine a multidivisional firm with headquarters exposed to moral hazard by division managers under uncertainty. We show the aggregation and linearity properties of Holmstrom and Milgrom (1987) hold under IID ambiguity of Chen and Epstein (2002).
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::749343f7875783acefad4c50c30a41db
https://doi.org/10.2139/ssrn.3285458
https://doi.org/10.2139/ssrn.3285458
Publikováno v:
SSRN Electronic Journal.
We analyze the optimality of allowing disclosures of different types of information before equity offerings and of alternative rules for private securities litigation, where courts may penalize unduly optimistic disclosures ex post. In our model, fir
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::4bdb10170904c2e944faa7473620b266
https://doi.org/10.2139/ssrn.3076684
https://doi.org/10.2139/ssrn.3076684
Publikováno v:
Review of Financial Studies. 27:484-518
This paper develops a dynamic rational expectations model of the credit rating process, incorporating three critical elements of this industry: (i) the rating agencies’ ability to misreport the issuer’s credit quality, (ii) their ability to issue
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::fa1447840f0f9f5c906e6620b41a6b23
https://doi.org/10.1093/rfs/hht072
https://doi.org/10.1093/rfs/hht072
Publikováno v:
Review of Financial Studies. 24(4):971-982
The critical role played by financial institutions in the recent financial crises has generated renewed interest on the corporate finance of the banking firm and the impact of the banking sector on the real economy. This paper introduces the special
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ed1187987dfa651a31577c98a76996de
http://hdl.handle.net/10.1093/rfs/hhr003
http://hdl.handle.net/10.1093/rfs/hhr003
Autor:
Paolo Fulghieri, Merih Sevilir
Publikováno v:
Journal of Financial and Quantitative Analysis. 44:1291-1321
This paper examines the impact of competition on the optimal organization and financing structures in innovation-intensive industries. We show that as an optimal response to competition, firms may choose external organization structures established i
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::7b72380952794e67fbc53a39e68b3d4c
https://doi.org/10.1017/s0022109009990391
https://doi.org/10.1017/s0022109009990391
Autor:
Merih Sevilir, Paolo Fulghieri
Publikováno v:
The Review of Financial Studies. 22:4643-4680
We take a portfolio approach to analyze the investment strategy of a venture capitalist (VC) and show that portfolio size and scope affect both the entrepreneurs’ and the VC’s incentives to exert effort. A small portfolio improves entrepreneurial
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d08762b28dd88ab7b7c3f48ff955e1b9
http://hdl.handle.net/10.1093/rfs/hhp012
http://hdl.handle.net/10.1093/rfs/hhp012
Publikováno v:
Journal of Applied Corporate Finance. 20:76-90
In recent years, many European companies have listed on the New York Stock Exchange (NYSE), and companies from emerging market countries such as Israel, China, and India have listed not only on the NYSE, but on various other American and European exc
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::743ff0e4704dd2e0d06ca3c2291ed9c2
https://doi.org/10.1111/j.1745-6622.2008.00195.x
https://doi.org/10.1111/j.1745-6622.2008.00195.x
Autor:
David L. Dicks, Paolo Fulghieri
Publikováno v:
SSRN Electronic Journal.
We develop a theory of innovation waves, investor sentiment, and merger activity based on uncertainty aversion. Investors must typically decide whether or not to fund an innovative project with very limited knowledge of the odds of success, a situati
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::9e491d25b85f0520d7ed2966bc376bf1
https://doi.org/10.2139/ssrn.2676854
https://doi.org/10.2139/ssrn.2676854