Information Asymmetries and Investment Ban...

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Sprache: Englisch

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Beschreibung

This book examines information asymmetries in mergers and acquisitions, specifically focusing on the role of the investment banker. When capital markets are imperfect, the investment banker may add value as an intermediary by reducing transaction costs and mitigating information asymmetries. Here, a theoretical model is developed, which shows that the investment banker is able to reduce the degree of hidden information between seller and buyer. The model indicates that the investment banker will recommend a specific buyer, taking the nature of the buyer, expected synergy benefits, and the acquisition probability into account. Based on that recommendation, the selling company can obtain maximum value by selling to the highest bidder.

Über den Autor

The Author: Christine Häcker was born 1977 in Leonberg. She studied Business at the University Tübingen and the California State University. After receiving her MBA (California State University Long Beach) in 2000, she was granted the professional CFA designation in 2003 and graduated with a Ph.D. from the University Tübingen in 2006. In addition, she has 3 years of experience in investment banking (mergers & acquisitions) in the US and Europe.

Inhaltsverzeichnis

Contents
: Mergers & Acquisition Principles - Transaction Types - The Mergers & Acquisitions Process - Intermediaries - Capital Market Imperfections - Intermediaries and Perfect Capital Markets - Intermediaries and Imperfect Capital Markets - Information Asymmetry between Buyer and Seller - Reporting Regulations - Information Categories - Buyer Types - Confidentiality Agreements - Information Disclosure Dilemma for the Seller - Information Disclosure Model - Offering Price per Buyer Type - Disclosure of Private Information - Investment Banker's Recommendation to the Seller.

Details

Erscheinungsjahr:	2007
Fachbereich:	Betriebswirtschaft
Genre:	Recht , Sozialwissenschaften , Wirtschaft
Rubrik:	Recht & Wirtschaft
Medium:	Taschenbuch
ISBN-13:	9783631563106
ISBN-10:	3631563108
Sprache:	Englisch
Herstellernummer:	56310
Einband:	Kartoniert / Broschiert
Autor:	Häcker, Christine
Auflage:	1. Auflage
Hersteller:	Peter Lang
Verantwortliche Person für die EU:	Lang, Peter GmbH, Gontardstr. 11, D-10178 Berlin, r.boehm-korff@peterlang.com
Maße:	210 x 148 x 12 mm
Von/Mit:	Christine Häcker
Erscheinungsdatum:	19.04.2007
Gewicht:	0,281 kg