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- catalog abstract "This paper documents interactions between financing policy and product market strategy as they occur in private placements of equity. Such equity sales have traditionally been viewed as a way to introduce an informed and active investor who can reduce agency problems and/or remedy an underinvestment problem. Our results indicate that sales to non-financial acquirers are often accompanied by concurrent product market agreements and that such agreements significantly impact the magnitude and division of the value gains that accompany private equity sales. The findings for private equity sales to financial acquirers are consistent with the traditional views, and are particularly supportive of the agency argument. Those involving non-financial acquirers also indicate the importance of a role for product market considerations.".
- catalog contributor b8479784.
- catalog contributor b8479785.
- catalog created "[1995?]".
- catalog date "1995".
- catalog date "[1995?]".
- catalog dateCopyrighted "[1995?]".
- catalog description "Includes bibliographical references (p. 21-22).".
- catalog description "This paper documents interactions between financing policy and product market strategy as they occur in private placements of equity. Such equity sales have traditionally been viewed as a way to introduce an informed and active investor who can reduce agency problems and/or remedy an underinvestment problem. Our results indicate that sales to non-financial acquirers are often accompanied by concurrent product market agreements and that such agreements significantly impact the magnitude and division of the value gains that accompany private equity sales. The findings for private equity sales to financial acquirers are consistent with the traditional views, and are particularly supportive of the agency argument. Those involving non-financial acquirers also indicate the importance of a role for product market considerations.".
- catalog extent "24, [11] p. ;".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 95-056.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 95-056".
- catalog issued "1995".
- catalog issued "[1995?]".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog subject "Corporations Finance.".
- catalog subject "Privately placed securities.".
- catalog subject "Venture capital.".
- catalog title "Why do public firms issue private equity? : product market considerations and private equity sales / by John J. Moon and Tarun Khanna.".
- catalog type "text".