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Using a product markets perspective to investigate the decision to vertically disintegrate , we find that vertical divestitures are more likely in response to positive industry demand shocks, favorable industry financing conditions, and lower parent firm relative productivity and are less likely when the potential for contracting problems is high.(More)
We examine the relation between mutual fund votes on shareholder executive compensation proposals and pension-related business ties between fund families and the firms. In unconditional tests, we find that fund families support management when they have pension ties to the firm. We find no relation when we stratify by fund family in conditional tests, which(More)
This paper investigates the effect of correlation and volatilities of firm and project cash flows on the choice of project finance. I use a pure-play approach to measure unobservable project cash flows for a sample of 440 US and non-US firms that invested in 577 projects from 1990 to 2008 and find evidence that the probability of project finance is(More)
The outstanding discoveries in the experimental and theoretical physics of elementary particles resulted in formulation of the Standard Model that provides now a self-consistent picture of the elementary particles world and describes with remarkable precision practically all observed experimental facts. These achievements were closely related with the(More)
In presenting this dissertation as a partial fulfillment of the requirements for an advanced degree from Georgia State University, I agree that the Library of the University shall make it available for inspection and circulation in accordance with its regulation governing materials of this type. I agree that permission to quote from, to copy from, or(More)
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