We provide several generalizations of Mailathʼs (1987)[9] result that in games of
asymmetric information with a continuum of types incentive compatibility plus separation …

We study dynamic bargaining with asymmetric information and interdependent values. We
base our analysis on the equilibria characterized by Deneckere and Liang (2006) for the …

A liquidity-constrained asset owner designs an asset-backed security to raise funds from an
informed liquidity supplier. Information-insensitive securities reduce the liquidity supplier's …

This paper studies bidders' security design when they compete for a common-value
investment opportunity under dispersed information. Out of a wide range of securities …

We analyze how relationship finance, such as venture capital and relationship lending,
affects growth firms' capital structure choices. We show that relationship investors that obtain …

In a canonical takeover model we let an informed large shareholder choose between
making a bid or initiating a sale to another acquirer. Such takeover activism complements …

I model the choice between a negotiated block trade and a public tender offer as means of
acquiring control in a firm with a large minority blockholder. Potential acquirers differ in their …

I extend Akerlof's adverse selection model, where uninformed participants withdraw from the
market, and show that rather than collapse,“lemons” can, and often do, lead to a negative …

This thesis contains three essays on corporate financial transactions when there is
asymmetric information between firms and investors. In the first essay,\Security Design …

This paper applies a sample of 842 to investigate the effect of government involvement and
payment methods on merger and acquisition of Chinese listed firms for the period 1993 …