| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4039 |
| DP4039 Inside-Outside Money Competition | |
| Ramon Marimon; Pedro Teles; Juan Pablo Nicolini | |
| 发表日期 | 2003-09-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business relationships. We consider a long-term relationship between a firm and a privately-informed stakeholder, a buyer for example. In our model, takeovers both increase the surplus from trade and enable the firm to extract a potentially higher share of the surplus from the buyer. The possibility of a takeover that leaves the buyer with a higher (lower) rent than the incumbent manager increases (decreases) the buyer's willingness to reveal their valuation. We suggest a number of testable predictions on the performance of takeover targets and trade credit. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Takeovers Information Disclosure Buyer Price Value |
| URL | https://cepr.org/publications/dp4039 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533015 |
| 推荐引用方式 GB/T 7714 | Ramon Marimon,Pedro Teles,Juan Pablo Nicolini. DP4039 Inside-Outside Money Competition. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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