A Theory of Takeovers and Disinvestment

By B. Lambrecht, Stewart C. Myers. 2007

170 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/ccd57dbc037466bbb29c1d4ea13f02fd3a999ec0

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Citations in the corpus

Financing and takeovers (2008, unknown): “Lambrecht (2004), Morellec and Zhdanov (2005), Lambrecht and Myers (2007), Margsiri, Mello, and Ruckes (2005), and Hackbarth and Morellec (2008) develop real options models to analyze the timing and terms of takeovers.”
A Lintner Model of Payout and Managerial Rents (2012, unknown): “5 Lambrecht and Myers (2007) show that collective action by raiders or hostile acquirers can act as a substitute for collective action by shareholders.”
Managerial Ownership Dynamics and Firm Value (2009, unknown): “Shareholders can overcome costs of collective action and fire managers, but costs of collective action are assumed to be high enough that management draws substantial rents from its position (see Kuhnen and Zwiebel (2007) and Lambrecht and Myers (2007) for such formulations).”
Dynamic Models and Structural Estimation in Corporate Finance (2012, background): “The classical study of Myers and Majluf (1984) applied the lemons problem to external financing decisions of firms. In their equilibrium, managers of good firms may choose to bypass positive NPV projects, because they do not want to be pooled with bad firms. Conditional on issuing external financing”
A Theory of Merger-Driven IPOs (2011, unknown): “…subject to the Cambridge Core Our analysis is also related to several articles that examine M&As in a dynamic framework (e.g., Lambrecht (2004), Lambrecht and Myers (2007), Leland (2007), Hackbarth and Miao (2007), Bernile, Lyandres, and Zhdanov (2011), Hackbarth and Morellec (2008), Margsiri,…”
Corporate investment efficiency: The role of financial development in firms with financing constraints and agency issues in OECD non-financial firms (2019, background): “‡ Lambrecht and Myers (2007) provide a useful theoretical and empirical study on the reasons for disinvestment in declining industries.”