Business Commons^™

Deal Innovations In Mergers And Acquisitions: Do Go-Shop Provisions Create Real Benefits?, Chenguang Shang

Wayne State University Dissertations

Along with the private equity boom in the mid-2000s emerged a new M&A deal technology - the "go-shop" provision. In this paper, I address the question whether go-shop provisions are utilized by target managers to pursue private benefits or are used to protect the fiduciary interests of the target shareholder. I investigate the effectiveness of go-shop provisions by empirically testing two competing hypotheses: (a) the window-dressing hypothesis, and (b) the shareholder interest hypothesis.

This is the first study to shed light on the impact of go-shop provisions on the wealth of both the target and the bidder shareholders, and thereby …

Spheres Of Semi-Legality: Discourse, Media And Informal Economic Practices In St. Petersburg, Russia (2000-Present), Maria Rosaria Roti

Wayne State University Dissertations

My dissertation project focuses on how the post-Yeltsin (2000 onwards) market economy actually works and how people define, identify and engage within this newly structured market economy. In order to understand this phenomenon my ethnographic study focuses on business in Russia from two perspectives. First, it discusses how Russian enterprises operate in Russia with the socially embedded informal economic practices inherited from the Soviet system, including trust, personal networks, patron-client relationships, system avoidance, bribery, and corruption. Second, it examines how foreign firms operate under these existing economic conditions in Russia while simultaneously still following FTC regulations and international law. Keeping …

Elections And Asset Pricing: The Politically Sensitive Equity Of Us Military Contractors, Matthew Mark Ross

Wayne State University Dissertations

I quantify the relationship between political uncertainty and equity volatility in the months around US elections from 1989-2012. The Economic Policy Uncertainty Index and Stockholm International Peace Research Institute (SIPRI) data are employed to measure political uncertainty faced by military contractors, capitalizing on the unique monopsony-oligopoly business environment of these firms. I employ a GARCH (1,1) model with cross-sectionally correlated moments to produce daily firm-election volatility measures. Volatility increases 11% for local, 27% for midterm, and 43% for presidential elections. These measures demonstrate that all election categories: local, federal, presidential, and midterm exhibit differential effects on equity volatility. My results …

The Road Taken: A Between And Within Subjects Study Of Intervention Selection Decisions By Performance Improvement Professionals, Hillary Leigh

Wayne State University Dissertations

Background: In performance improvement, intervention selection is a complex decision that ought to be based on the best available evidence. Despite this, there is little research into what sources of evidence are used in intervention selection and what changes in belief occur during performance improvement professionals' decisions. Framed in decision theory, this study aims to resolve these problems. Methods: Sixty-one Certified Performance Technologists completed a dynamic, Web-delivered questionnaire where they provided a general assessment of intervention success (Pr₁), then responded to 12 performance improvement scenarios; by selecting an intervention, providing a prior probability (Pr₂), receiving additional …

Making Lemonade: Nonprofit Survival During The Great Recession, Latitia Mccree

Wayne State University Theses

ABSTRACT

MAKING LEMONADE: NONPROFIT SURVIVAL DURING THE GREAT RECESSION

by

LATITIA MCCREE

May 2014

Advisor: Dr. Dapne Ntiri, Ph.D.

Major: Interdisciplinary Studies, Nonprofit Sector Studies

Degree: Master of Arts

The Great Recession that officially began in December 2007 and ended in June 2009 significantly impacted the quality of life for many US families. Jobs were permanently lost, homes were foreclosed, and personal savings were depleted. This caused many families to seek aid from nonprofit organizations. As the demand for nonprofit services rose, many nonprofit organization's revenues and resources declined.

A case study of the YMCA of Metropolitan Detroit was conducted …

Global E-Mentoring: Overcoming Virtual Distance For An Effective Mentoring Relationship, Nancy Philippart

Wayne State University Dissertations

Mentoring can enhance an employee's career development and advancement but traditional face-to-face mentoring has become less relevant because of globalization, increased employee mobility and technology-enabled work. A new mentoring model enabled by technology has emerged to meet the needs of today's complex, fast changing global workplace. Although e-mentoring has several advantages over traditional mentoring, the absence of regular face-to-face interactions requires different strategies to develop an effective mentoring relationship. Moreover, additional complexities arise when this virtual mentoring is global.

This research utilizes the construct of virtual distance, the "psychological separation" that has been found to impact performance outcomes of geographically …

Examining The Costs Of Providing An Adequate Education For Michigan's K-12 Public School Students, Sean Haskin Wightman

Wayne State University Dissertations

ABSTRACT

EXAMINING THE COSTS OF PROVIDING AN ADEQUATE EDUCATION

FOR MICHIGAN'S K-12 PUBLIC SCHOOL STUDENTS

by

SEAN WIGHTMAN

February 2014

Advisor: Dr. Michael F. Addonizio

Major: Educational Leadership and Policy Studies

Degree: Doctor of Philosophy

Because the Federal No Child Left Behind Act of 2001, which requires students to perform at predefined proficiency levels on state standardized testing instruments, adequate school funding has become arguably the single most important factor influencing the success of children in schools. Because State legislators are the one's primarily responsible for establishing annual budgets for K-12 public education, it is essential they are made aware …

Essays On The Role Of Competitor-Specific Human Capital On Initial Public Offerings (Ipos) Performance, Tapan Seth

Wayne State University Dissertations

This dissertation splits the idea of competitor-specific human capital into two types: competitor-specific-direct (CSD) human capital and competitor-specific-indirect (CSI) human capital, and inspects how these two types of human capital held by IPO Top Management Team (TMT) members are associated with IPO performance. Furthermore, by utilizing research on human capital, competitive dynamics, and knowledge-based view of the firm, this dissertation identifies important antecedents that result in higher degree of impact of such human capital on the IPO firm, and IPO firm's capabilities absorb such knowledge that results in higher valuations at IPO. By employing a multi-year panel data of new …