{"product_id":"the-art-of-capital-restructuring-isbn-9780470569511","title":"The Art of Capital Restructuring","description":"\u003cb\u003eThe most up-to-date guide on making the right capital restructuring moves\u003c\/b\u003e \u003cp\u003e\u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of M\u0026amp;As 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eEmphasizes best practices that lead to M\u0026amp;A success\u003c\/li\u003e \u003cli\u003eContains important and relevant research studies based on recent developments in the field\u003c\/li\u003e \u003cli\u003eComprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSkillfully 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.\u003c\/p\u003e \u003cp\u003eAcknowledgments ix\u003c\/p\u003e \u003cp\u003e1 Mergers, Acquisitions, and Corporate Restructuring: An Overview 1\u003cbr\u003e \u003ci\u003eH. Kent Baker and Halil Kiymaz\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Background\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2 Merger Waves 17\u003cbr\u003e \u003ci\u003eJarrad Harford\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e3 Takeover Regulation 39\u003cbr\u003e \u003ci\u003eMarina Martynova and Luc Renneboog\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e4 Corporate Governance and M\u0026amp;As 57\u003cbr\u003e \u003ci\u003eFei Xie\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e5 Ethical and Social Issues in M\u0026amp;As 71\u003cbr\u003e \u003ci\u003eRobert W. McGee\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e6 Theoretical Issues on Mergers, Acquisitions, and Divestitures 87\u003cbr\u003e \u003ci\u003eAbdul H. Rahman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e7 The Short-Term and Long-Term Performance of M\u0026amp;As 105\u003cbr\u003e \u003ci\u003eShantanu Dutta and Samir Saadi\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Valuation\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8 Standard Valuation Methods for M\u0026amp;As 127\u003cbr\u003e \u003ci\u003ePablo Fernandez\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e9 Real Options and Their Impact on M\u0026amp;As 151\u003cbr\u003e \u003ci\u003eHemantha Herath and John S. Jahera Jr.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e10 The Law and Finance of Control Premiums and Minority Discounts 169\u003cbr\u003e \u003ci\u003eHelen Bowers\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e11 Cross-Border Valuation Effects in Developed and Emerging Markets 185\u003cbr\u003e \u003ci\u003eWenjie Chen\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III the M\u0026amp;A Deal Process\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12 Sources of Financing and Means of Payment in M\u0026amp;As 205\u003cbr\u003e \u003ci\u003eMarina Martynova and Luc Renneboog\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e13 Cultural Due Diligence 223\u003cbr\u003e \u003ci\u003eRonald F. Piccolo and Mary Bardes\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e14 Negotiation Process, Bargaining Area, and Contingent Payments 243\u003cbr\u003e \u003ci\u003eWilliam A. Grimm\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e15 Merger Negotiations: Takeover Process, Selling Procedure, and Deal Initiation 261\u003cbr\u003e \u003ci\u003eNihat Aktas and Eric de Bodt\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e16 Postacquisition Planning and Integration 281\u003cbr\u003e \u003ci\u003eOlimpia Meglio and Arturo Capasso\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e17 Organizational and Human Resource Issues in M\u0026amp;As 297\u003cbr\u003e \u003ci\u003eSiddhartha S. Brahma\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Takeovers and Behavioral Effects\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e18 Takeover Strategies 323\u003cbr\u003e \u003ci\u003eShailendra (Shail) Pandit\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e19 Defensive Strategies in Takeovers 339\u003cbr\u003e \u003ci\u003eChristian Rauch and Mark Wahrenburg\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e20 The Impact of Restructuring on Bondholders 359\u003cbr\u003e \u003ci\u003eLuc Renneboog and Peter G. Szilagyi\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e21 Behavioral Effects in M\u0026amp;As 385\u003cbr\u003e \u003ci\u003eJens Hagendorff\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V Recapitalization and Restructuring\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e22 Financial Restructuring 401\u003cbr\u003e \u003ci\u003eOtgontsetseg Erhemjamts and Kartik Raman\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e23 Going Private and Leveraged Buyouts 419\u003cbr\u003e \u003ci\u003eOnur Bayar\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e24 International Takeovers and Restructuring 437\u003cbr\u003e \u003ci\u003eRita Biswas\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart VI Special Topics\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e25 Joint Ventures and Strategic Alliances: Alternatives to M\u0026amp;As 461\u003cbr\u003e \u003ci\u003eTomas Mantecon and James A. Conover\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e26 Fairness Opinions in M\u0026amp;As 483\u003cbr\u003e \u003ci\u003eSteven M. Davidoff, Anil K. Makhija, and Rajesh P. Narayanan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e27 How Initial Public Offerings Affect M\u0026amp;A Markets: The Dual Tracking Phenomenon 495\u003cbr\u003e \u003ci\u003eRoberto Ragozzino and Jeffrey J. Reuer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e28 The Diversification Discount 511\u003cbr\u003e \u003ci\u003eSeoungpil Ahn\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e29 Partial Acquisitions: Motivation and Consequences on Firm Performance 527\u003cbr\u003e \u003ci\u003ePengcheng Zhu and Shantanu Dutta\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eAnswers to End-of-Chapter Discussion Questions 545\u003c\/p\u003e \u003cp\u003eIndex 581\u003c\/p\u003e  \u003cb\u003eH. Kent Baker, PhD, CFA, CMA\u003c\/b\u003e, 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 \u003ci\u003eJournal of Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Analysts Journal,\u003c\/i\u003e and \u003ci\u003eJournal of Portfolio Management.\u003c\/i\u003e 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.  \u003cp\u003e\u003cb\u003eHalil Kiymaz\u003c\/b\u003e 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 M\u0026amp;As 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.\u003c\/p\u003e  Mergers and acquisitions represent a vital business tool as well as an alternative growth and expansion strategy for many companies. Given the frequency of these transactions, understanding how and why they take place is essential to realizing the expected benefits of such activities and ensuring the critical goal of maximizing shareholder value.  \u003cp\u003e\u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e, part of the Robert W. Kolb Series in Finance, provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring in both developed and emerging markets. Filled with in-depth insights and practical advice, this reliable resource contains detailed discussions of several different forms of physical restructuring such as divestitures as well as capital restructuring. Along the way, it also explains the financial aspects of these transactions and clearly addresses the legal, regulatory, tax, ethical, social, and behavioral issues associated with them.\u003c\/p\u003e \u003cp\u003eDivided into six comprehensive parts, with contributed chapters from leading academics and practitioners from around the world, \u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e includes the latest M\u0026amp;A-related research, with coverage extending from basic concepts, motives, strategies, and valuation techniques to their application to increasingly complex, real-world situations. Chapter by chapter, it explains these methods from both a management and investor perspective while emphasizing the wealth effects they have on shareholders.\u003c\/p\u003e \u003cp\u003eEngaging and informative, \u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e distinguishes itself in many ways from other books on this topic. Blending recent theoretical developments with the results of relevant research studies and actual M\u0026amp;A examples, it skillfully:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eExamines best practices that lead to M\u0026amp;A success, including valuing the target, negotiating and financing the deal, and engaging in post-acquisition planning and integration\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eReveals research dealing with both foreign and domestic firms, detailing the cross-border effects involving developed and emerging markets\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eDetails both the technical and human aspects of M\u0026amp;As, from valuation issues to corporate governance and cultural due diligence\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eOutlines different M\u0026amp;A takeover and defensive takeover strategies\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eAnd much more\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAs markets become more integrated, the debate about the long- and short-term performance of M\u0026amp;As continues to intensify. \u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e will help you gain a firm understanding of both the art and science of this discipline and put you in a better position to continue to create shareholder value in the process.\u003c\/p\u003e  \u003cb\u003eTHE ART OF CAPITAL RESTRUCTURING\u003c\/b\u003e  \u003cp\u003eThe Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals. As part of the Robert W. Kolb Series in Finance, \u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e contains comprehensive insights on both the art and science of this dynamic discipline.\u003c\/p\u003e \u003cp\u003eMergers, acquisitions, and corporate restructuring represent a fast-paced and highly complex environment in which transactions provide unique opportunities with considerable risk. It requires an evolving understanding of various issues, and this book considers many of them. Divided into six comprehensive parts—with each chapter containing a set of discussion questions to reinforce key concepts—\u003ci\u003eThe Art of Capital Restructuring\u003c\/i\u003e offers essential insights that both financial veterans and aspiring professionals need to succeed.\u003c\/p\u003e \u003cp\u003eTopics covered throughout this timely guide include:\u003c\/p\u003e \u003cul\u003e \u003cli\u003e \u003cp\u003eMerger waves, takeover regulation, and corporate governance\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eStandard valuation methods and real options, as well as the adjustment needed for the implicit minority discount\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe M\u0026amp;A deal process, from sources of financing and means of payment to negotiation and integration\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eThe impact of restructuring on bondholders and behavioral effects in M\u0026amp;As\u003c\/p\u003e \u003c\/li\u003e \u003cli\u003e \u003cp\u003eRestructuring activities, including financial restructuring, going private, and leveraged buyouts\u003c\/p\u003e \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSkillfully blending theory with practice, this book will put you in a better position to make the most informed decisions with regard to capital restructuring in today's dynamic business world.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990160392421,"sku":"NP9780470569511","price":95.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470569511.jpg?v=1761786733","url":"https:\/\/k12savings.com\/es\/products\/the-art-of-capital-restructuring-isbn-9780470569511","provider":"K12savings","version":"1.0","type":"link"}