and Y. Jiao, 2012, "Dual Class IPOs: A Theoretical Analysis," Journal of Banking and Finance, Vol. 36, 305-319Chemmanur, T. and Jiao, Y., 2012. Dual class IPOs: A theoretical analysis, Journal of Banking and Finance 36, 305-319....
Dual Class IPOs,Share Recapitalizations,and Unications:ATheoretical AnalysisThomas J Chemmanur*andYawen Jiao**First Version:November 2004Current Version:May 24,2006*Professor of Finance,Carroll School of Management,Boston College,MA02467.Phone:(617) 552 3980.Fax:(617) 552 0431.E-mail:chemmanu@bc...
This dissertation focuses on two central capital market transactions, takeovers and initial public offerings (IPOs), from both a theoretical and an empirical point of view. After an introductory chapter, the first two chapters analyse how minority shareholders are affected by a change in take-over ...
Field and Lowry (2022) also show that the prevalence of dual-class shares has significantly increased from less than 10% prior to the year 2000 to over 25% of all initial public offerings (IPOs) in 2017. In addition, a few theoretical studies argue that dual-class share structure, as ...
Chemmanur & Yawen Jiao, Dual Class IPOs: A Theoretical Analysis, 36 J. Bank. Fin. 305, 315 (2012), explain the relevant tradeoff. In their model, the controller's payoff is based on the IPO proceeds plus the expected value of PBC in the face of potential takeover bids, conditional ...
2006. Dual Class IPOs, Share Recapitalizations, and Unifications: A Theoretical Analysis. Unpublished working paper. Boston College.Chemmanur, Thomas J., and Yawen Jiao, 2012, Dual class IPOs: A theoretical analysis, Journal of Banking & Finance 36, 305-319....
Control as a motivation for underpricing: A comparison of dual and single-class IPOs 2003, Journal of Financial Economics Citation Excerpt : The empirical literature's ambiguity should not surprise us, given that theoretical work demonstrates that dual-class structures can either benefit or harm share...