A Competing Risks Analysis of Corporate Survival
Publication in refereed journal


香港中文大学研究人员 ( 现职)

庄太量教授 (经济学系)

全文

数位物件识别号 (DOI) http://dx.doi.org/10.1111/j.1755-053X.2010.01127.x

引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/7WOS source URL
Scopushttp://aims.cuhk.edu.hk/converis/portal/Publication/10Scopus source URL

其它资讯

摘要This paper investigates how the characteristics of a Hong Kong-listed firm influence its odds of going bankrupt, being acquired, and going private. A competing risks model is estimated. Our results reveal that larger firms are more vulnerable to bankruptcy, and that fast-growing firms are more likely to be acquired. We also demonstrate that undervaluation is a key driver of going private. Despite the low agency cost due to the concentrated ownership structure, the propensity of Hong Kong-listed firms to go private still increases with the level of free cash flow. ? 20http://aims.cuhk.edu.hk/converis/portal/Publication/10 Financial Management Association International.

着者He Q., Chong T.T.-L., Li L., Zhang J.
期刊名称Financial Management
出版年份20http://aims.cuhk.edu.hk/converis/portal/Publication/10
月份12
日期1
卷号39
期次4
出版社Financial Management Association International
出版地United States
页次169http://aims.cuhk.edu.hk/converis/portal/Publication/7 - 1http://aims.cuhk.edu.hk/converis/portal/Publication/718
国际标準期刊号0046-3892
语言英式英语