Firms, Markets and Value research cluster

'Firm Policies & Decisions' theme

Research in Firm Policies & Decisions broadly looks into corporate decisions. We investigate questions regarding sources of funding and capital structure of corporations, transactions to grow and acquire businesses and all activities and decisions that managers may take to increase the value of the firm.

Research covers the following areas:

  • M&A, buyouts and IPOs
  • Capital structure
  • Cash holding & pay-out policies
  • Investment efficiency
  • Corporate lobbying
  • R&D and innovation policies

Selected publications

  • Dargenidou, C., Jaafar, A. and McLeay S. 2014. Regulation, Bonding and the Quality of Financial Statements. in Accounting and Regulation: New Insights on Governance, Markets and Institutions, ed. Roberto Di Pietra, Stuart McLeay and Joshua Ronen, Springer, New York, United States, pp. 191-228
  • Kaplan, T. and Wettstein, D. 2015. The Optimal Design of Rewards in Contests. Review of Economic Design, 19 (4) 327-339
  • Piaskowska, D. and Trojanowski, G. 2014. Twice as smart? The importance of managers’ formative-years international experience for their international orientation and foreign acquisition decisions. British Journal of Management, 25(1), 40-57.
  • Sonika, R., Carline, N. and Shackleton, M., 2014. The option and decision to repurchase stock. Financial Management 43(4), 833-855
  • Tarsalewska M. 2015. The Timing of Mergers along the Production Chain, Capital Structure, and Risk Dynamics. Journal of Banking and Finance, 57, 51-64

Working papers

  • Chircop, J. and Tarsalewska, M. 2015. Annual Report Length and M&A Efficiency.
  • Cumming, D. J., Hass, L.H., Myers, L. A. and Tarsalewska, M. 2015. Venture Capital and the Disclosure of Material Weaknesses in Internal Control.
  • Cumming, D. J., Sannajust, A., Tarsalewska, M. and Zhu, J. 2016. Pre-Going Private Ownership Around the World
  • Dargenidou C., Gregory A. and Hua S. 2015. How far does financial reporting allow us to judge whether M&A activity is successful?
  • Filatotchev, J. and Livne, G. 2015. Earnings Quality in Foreign IPOs in the U.S.: The Role of Home Country Institutions
  • Gallo, A. and Park, M. 2016. Securitization under financial distress: the impact on corporate borrowers
  • Gregory and I. Tonks and Tharyan, R. 2015 Overvaluation versus Overconfidence in takeovers: Managerial trading as an identification strategy.
  • Horton, J., Kiosse, P.V. and Mitrou, E. 2015. Why do firms retain their defined benefit plans? Evidence from the UK.
  • Kalogirou, F. and Andre, P. 2015. Voluntary IFRS adoption and group corporate decisions
  • Oliviero, T., Park, M. and Zou H. 2016. How do firms weather increasing legal risk? Some new evidence
  • Piaskowska, D. and Trojanowski, G., Ray, S. and Tharyan, R. 2014. Why TMT international experience and diversity may (not) improve acquisition performance?
  • Piaskowska, D. and Trojanowski, G., Ray, S. and Tharyan, R. 2015. How ‘International orientation of Acquirers’ Top Management Teams influences their deal payment modes in cross-border M&As?
  • Piaskowska, D. and Trojanowski, G., Ray, S. and Tharyan, R. 2016. How international orientation of top managerial teams may (not) moderate the performance of serial acquirers?
  • Tarsalewska, M. 2015. Buyouts Under the Threat of Preemption.