ADV CORPORATE FINANCE
ADV CORPORATE FINANCE MBAX 6200
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This 2 page Study Guide was uploaded by Dr. Milton Jacobi on Thursday October 29, 2015. The Study Guide belongs to MBAX 6200 at University of Colorado at Boulder taught by Sanjai Bhagat in Fall. Since its upload, it has received 57 views. For similar materials see /class/232008/mbax-6200-university-of-colorado-at-boulder in OTHER at University of Colorado at Boulder.
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Date Created: 10/29/15
Stud uestions MBAX 6200 November 17 2008 1 Discuss the advantages and disadvantages of common stock residual claims jensen smith doc 2 Discuss the sources of con ict of interest between managers and shareholders Discuss the mechanisms to control this con ict of interest jensen smith doc 3 Target shareholders generally receive substantial positive abnormal returns during takeovers What are the hypothesized sources of these abnormal returns What is the empirical evidence on this target gaindoc NewEvidenceMergersppt monopoly ppt b shlez39fer vishnyppt 4 What is the empirical evidence on returns to bidders in takeovers Discuss potential problems in the traditional ways of measuring returns to bidders in takeovers b hirshleiferppt CEO Overcon dence Turnoverpp NewEvidenceMergersppt 5 a During the last decade corporations are said to be refocusing What is meant by corporate refocusing Discuss why corporations might be refocusing please consider the evidence in Krishnaswami and Subramaniam 1999 Ahn and Denis 2004 and Daley et al 1997 b What might be the role of market disciplinary forces and internal governance mechanisms in spurring corporate refocusing as discussed in Berger and Ofek 1999 7 Recently academics the stock exchanges and industry advisors to institutional investors have suggested ways to measure corporate governance for companies Discuss the role of independent directors and director stock ownership on corporate governance What is the empirical evidence on these issues b blaccppt Corporate Governance Performance ppt 8 a Jensen and Murphy s 1990 payperformance sensitivity with respect to compensation dismissal and stock ownership is statistically significant but the magnitude seems small for an occupation in which incentive pay is expected to play an important role Discuss the arguments and evidence in Hall and Liebman 1998 as it bears on the above question b What is the role of management compensation structure on misreporting as documented in Burns and Kedia 2004 9 Describe the capital markets39 reaction to announcements of new security offerings Discuss the theories optimal capital structure implied changes in net operating cash ow information asymmetry unanticipated announcement that have been suggested to understand this set of empirical facts raising capitalppt 10 a What are the advantages and disadvantages of the traditional ways of dealing with risk in capital budgeting b What is a real option When is it more valuable to consider the real options related to a capital budgeting project real optionsppt 11 Why are initial public offerings underpriced as discussed by Welch and Ritter 2002 Please be sure to discuss the theories based on asymmetric information both when the issuer is more informed than the investor and the investors are more informed than issuer theories based on symmetric information and theories focusing on the allocation of IPO shares IPOppt 12 Explain the role of mortgage originators mortgagebacked securities issuers bond rating agencies and institutional bond fund managers in the current subprime credit crisis Causes ofSubprime Credit Crisis 13 a With the help of a numerical example explain the underinvestment problem How can a business avoid this problem underinvestment doc b Kayhan and Titman 2007 find that prior stock returns have a very significant impact on a f1rm s capital structure Why might this be the case CapitalStructureppt l4 Kaplan and Stromberg 2001 2003 note that VC contracts have the following features antidilution rights automatic conversion and vesting and noncompete clauses Describe these contractual features What is the economic justification for including it in a VC contract VC Contractingppt 15 How does the stock market react to a company being named a defendant in a lawsuit How does the market response differ depending on the type of litigation and the identity of the plaintiff Why does the market response differ depending on the type of litigation and the identity of the plaintiff CorporateLawppt Please note The Final Exam will consist of ve questions drawn from the above You will be asked to answer three of these ve questions It is expected that the answer to each question would take about 30 minutes
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