The Art of Capital Restructuring

H. Kent Baker 지음

Wiley 2011년 07월 28일 출간

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The most up-to-date guide on making the right capital restructuring movesThe Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of MAs requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm.The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations. In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations.Emphasizes best practices that lead to MA successContains important and relevant research studies based on recent developments in the fieldComprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideasSkillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.

목차

Acknowledgments ix1 Mergers, Acquisitions, and Corporate Restructuring: An Overview 1H. Kent Baker and Halil KiymazPART I Background2 Merger Waves 17Jarrad Harford3 Takeover Regulation 39Marina Martynova and Luc Renneboog4 Corporate Governance and MAs 57Fei Xie5 Ethical and Social Issues in MAs 71Robert W. McGee6 Theoretical Issues on Mergers, Acquisitions, and Divestitures 87Abdul H. Rahman7 The Short-Term and Long-Term Performance of MAs 105Shantanu Dutta and Samir SaadiPART II Valuation8 Standard Valuation Methods forMAs 127Pablo Fernandez9 Real Options and Their Impact on MAs 151Hemantha Herath and John S. Jahera Jr.10 The Law and Finance of Control Premiums and Minority Discounts 169Helen Bowers11 Cross-Border Valuation Effects in Developed and EmergingMarkets 185Wenjie ChenPART III The MA Deal Process12 Sources of Financing and Means of Payment in MAs 205Marina Martynova and Luc Renneboog13 Cultural Due Diligence 223Ronald F. Piccolo and Mary Bardes14 Negotiation Process, Bargaining Area, and Contingent Payments 243William A. Grimm15 Merger Negotiations: Takeover Process, Selling Procedure, and Deal Initiation 261Nihat Aktas and Eric de Bodt16 Postacquisition Planning and Integration 281Olimpia Meglio and Arturo Capasso17 Organizational and Human Resource Issues in MAs 297Siddhartha S. BrahmaPART IV Takeovers and Behavioral Effects18 Takeover Strategies 323Shailendra (Shail) Pandit19 Defensive Strategies in Takeovers 339Christian Rauch and Mark Wahrenburg20 The Impact of Restructuring on Bo

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저자(글) H. Kent Baker

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H. Kent Baker, PhD, CFA, CMA, is University Professor of Finance and Kogod Research Professor at the Kogod School of Business at American University, Washington, D.C. He has published extensively in leading academic and professional finance journals including the Journal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal, and Journal of Portfolio Management. He has also published more than a dozen books including several corporate finance textbooks. Recognized as one of the most prolific authors in finance during the past 50 years, Professor Baker has consulting and training experience with more than 100 organizations.Halil Kiymaz is Bank of America Chair and Professor of Finance at the Crummer Graduate School of Business at Rollins College. He holds the Chartered Financial Analyst (CFA) designation and has served as a grader for the CFA Institute. Professor Kiymaz maintains an extensive research agenda focusing on everything from international MAs to the financial management of multinationals, and has published more than 50 articles in scholarly and practitioner journals. He is the recipient of several research awards, including the McGraw-Hill Irwin Best Paper Award and Outstanding Research Award at the Global Conference on Business and Finance.