This study investigates the governance role of multiple large shareholders (MLS hereafter)
in firms' investment decisions. Using a sample of 1640 Chinese firms listed on the Shanghai …

Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to
Process, Tools, Cases, and Solutions, Tenth Edition, is the most comprehensive and cutting …

Using a novel information asymmetry index based on measures of adverse selection
developed by the market microstructure literature, we test whether information asymmetry is …

Commercial banks acquire inside information about the firms they lend to. We study the
impact of this informationally privileged position on the borrowing firm using a broad panel of …

In this article we use panel-estimation techniques to calculate discretionary accruals (DAC)
and to produce a better understanding of the nature of the relation between debt and …

This study investigates the role of corporate social responsibility (CSR) in explaining firms'
stock performance in the wake of natural disasters in the United States. Using event study …

With the aim of achieving an advanced understanding of current research on unrelated
diversification and providing fruitful groundwork to foster active interchange between …

Executive Overview Few major corporations are single business entities; rather, they are
organizations that target many product-market combinations. Although academia has shown …

This paper examines the effect of corporate diversification on firm value during periods of
economic downturns. Analysis of diversified firms' valuation during recessionary periods …

The challenges faced by diversified corporations—firms that operate in more than one
industry or market—have changed over the years. In this new edition, Olivier Furrer helps …