Suchergebnisse

AbstractUsing a sample of 20 finance journals from 1985 to 2014, we develop a robust, iterative loop ranking system for journals, universities, and doctoral programs across five‐year intervals. Unlike past models, our dynamic model requires minimal reliance on external rankings. New journals create an immediate impact on rankings, likely because they attract high‐profile authors in early issues. Niche journals rank higher than broad‐based journals outside the top five. Our results demonstrate increased productivity of international universities and nonacademic institutions relative to U.S. universities. International doctoral programs experience similar increases in graduate productivity. Over time, collaboration between authors at different institutions increases.

PurposeThe purpose of this study is to understand the structure and dynamics of minority equity sponsorship agreements and the motivations for organizations to go beyond traditional sponsorships by acquiring minority equity in the sponsored organization.Design/methodology/approachThis paper adopts a qualitative methodology and presents interview data from key actors involved in minority equity sponsorship agreements.FindingsThe findings of the paper include major characteristics of minority equity sponsorship agreements including the motivations, dynamics and resources exchanged by sponsoring firms and clubs in these relationships, based on the experiences of key actors from firms, clubs and other key stakeholders, and a conceptual model for forming and maintaining these relationships.Practical implicationsSponsorships are increasingly evolving into minority equity sponsorship agreements, particularly in the European market. The findings of this study assist sponsoring firms and the executives of clubs in better understanding the dynamics and stakeholder-related consequences of these relations.Originality/valueThe findings of this paper illustrate the differences between minority equity sponsorship agreements and both traditional sponsorships and minority equity alliances. The findings also identify major characteristics of these relationships and the interdependencies among these characteristics.

AbstractUsing a sample of mergers and acquisitions from 1985 to 2014, we examine the impact of proximity between target and acquirer as a measure of information asymmetry. We find geographic distance has a significant impact on acquisitions premiums and time to completion, conditional on the size of the target firm. Small targets receive lower premiums and have a faster time to completion the closer they are to their acquirer. Conversely, large targets have a slower time to deal completion the closer their proximity. We conclude geographic distance has a substantial impact on acquisitions.