Three essays on financial management

Date
2014
Authors
Dai, Ya Anna
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Volume Title
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Abstract

This dissertation consists of three chapters that examine firm's financial management. Chapter one studies the impact of regulatory protection for minority shareholders during minority buyouts. Specifically, we find that a reverse book building process implemented in India in 2003 has increased the gains to minority shareholders. Chapter two examines the impact of off-balance-sheet hedge on firm value. We report a negative relation between firm value and duration gap. Chapter three examines whether the capital structure theories developed in Western countries apply to Chinese listed companies. We find that Chinese companies' financing behaviors are becoming more akin to those in the developed market with increasing integration and financial liberalization.

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Keywords
book building process, capital structure, duration gap, minority buyout, partial adjustment model, valuation
Citation
Department
Finance