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Incumbent strategic behavior in financial markets and the exit of entrepreneurial start-ups
This paper empirically investigates the forces that shape the post-entry exit probability of entrepreneurial start-ups, with an emphasis on the impact of incumbents' strategic behavior in financialExpand
Employee buyouts: causes, structure, and consequences
Abstract This paper investigates the motivations for and consequences of including a broad group of employees in leveraged buyouts by comparing employee buyouts (EBOs) to transactions where only topExpand
Long-run abstinence after narcotics abuse: What are the odds?
We consider the long-run odds that narcotics users remain abstinent after methadone treatment. A flexible split-hazard specification that allows for individual-level differences inboth the long-runExpand
High-Yield Bond Default and Call Risks
This paper empirically investigates high-yield bond default and call behavior using a competing risks hazard model that simultaneously estimates the impact of bond age, issue-specific characteristicsExpand
Persistence in foreign exchange rates
Abstract This study examines the long-run behavior of seven daily nominal exchange rates using univariate and multivariate persistence measures. Our results indicate that for some currencies, theExpand
Predicting the duration and reversal probability of leveraged buyouts
Abstract We examine the probability that a firm will return to public status following a leveraged buyout (LBO) transaction and for those LBOs that will eventually reverse, we examine the factorsExpand
The Choice between Bank Debt and Trace Credit in Business Start-ups
This paper investigates the choice between bank debt and trade credit in business start-ups. While trade credit is more expensive than bank debt, suppliers tend to follow a more lenient liquidationExpand
New Firm Survival: The Effects of Start-up Characteristics
This paper empirically examines the influence of operating activities and financial and investment decisions in the start-up year on post-entry survival, taking industry effects into account.Expand