Richmond Mathews

1Andrey Malenko
1Will Cong
1Alexander S Gorbenko
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We study how interactions between financing and investment decisions can shape firm boundaries in dynamic product markets. In particular, we model a new product market opportunity as a growth option and ask whether it is best exploited by a large incumbent firm (Integration) or by a separate, specialized firm (Non-Integration). Starting from a standard(More)
  • Alexander S Gorbenko, Andrey Malenko, Mit Sloan, Hui Chen, Will Cong, Peter Demarzo +8 others
  • 2016
While acquisitions are a popular form of investment, the link between …rms'…nancial constraints and acquisition policies is not well-understood. We propose a model that connects bidders'…nancial constraints to their incentives to initiate deals, bids, and payment method. Because of ability to pay in stock, …nancial constraints do not a¤ect bidders'maximum(More)
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