haku: @indexterm plant closures / yhteensä: 32
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| Tekijä: | Kovenock, D. Phillips, G. M. |
| Otsikko: | Capital structure and product market behavior: An examination of plant exit and investment decisions |
| Lehti: | Review of Financial Studies
1997 : FALL, VOL. 10:3, p. 767-803 |
| Asiasana: | MARKET STRUCTURE PRODUCTS MARKET CONDITIONS INVESTMENTS PLANT CLOSURES |
| Kieli: | eng |
| Tiivistelmä: | This paper examines whether sharp debt increases through leveraged buyouts and recapitalizations interact with market structure to influence plant closing and investment decisions of recapitalizing firms and their rivals. The fact that recapitalizations and investment decisions are both endogenous and may be simultaneously influenced by the same exogenous events is taken into account. Firms in industries with high concentration are more likely to close plants and less likely to invest, and rival firms are less likely to close plants and more likely to invest when leveraged firms' market share is higher. |
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