haku: @author Dasgupta, S. / yhteensä: 7
viite: 4 / 7
| Tekijä: | Dasgupta, S. Titman, S. |
| Otsikko: | Pricing strategy and financial policy |
| Lehti: | Review of Financial Studies
1998 : WINTER, VOL. 11:4, p. 705-737 |
| Asiasana: | PRICING STRATEGY FINANCIAL POLICY |
| Kieli: | eng |
| Tiivistelmä: | Capital structure changes affect pricing strategies. In most cases prices increase following the implementation of a leveraged buyout of a major firm in an industry, with the more leveraged firm in the industry charging higher prices on average. Exceptions exist when the leverage increasing firm's rival is relatively unlevered. The first observation is consistent with a model where firms compete for market share on the basis of price, and the secon one can be explained within the context of a Stackelberg model where the relatively unlevered rival acts as the Stackelberg price leader. |
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