萨班斯-奥克斯利法案，资本结构与并购中的支付选择

ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic) Pub Date : 2016-06-17 DOI:10.2139/ssrn.2797501

Tim Chai, Dimitrios Vortelinos

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摘要

本文研究了SOX法案对不同资本结构企业并购支付选择的影响。使用Probit和Tobit模型来访问公司的收购前杠杆水平以及由于SOX法案而导致的公司杠杆变化。将现金支付型并购与股票型并购进行了比较。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Sarbanes-Oxley, Capital Structure and the Choice of Payment in Mergers and Acquisitions

The present paper studies the impact of the SOX act to the choice of payment in Mergers & Acquisitions for firms with different capital structures. Use Probit and Tobit models to access the firms’ pre-acquisition leverage levels as well as the leverage changes of firms because of the SOX act. The behavior of cash payment M&As is compared to the Stock M&As.

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ERN: Other Econometrics: Applied Econometric Modeling in Financial Economics - Econometrics of Financial Markets Regulation (Topic)

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