• Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Task and relationship conflict in ad-hoc and permanent groups: The critical role of emotion regulation

      Curseu, Petru L .; Boros, Smaranda; Oerlemans, Leon (International Journal of Conflict Management, 2012)
    • Task and relationship conflict in temporary and permanent groups: The critical role of emotion regulation

      Curseu, Petru L .; Boros, Smaranda; Oerlemans, Leon (2009)
      Private equity firms are accused by trade unions of changing industrial relations in buyouts by demonstrating an unwillingness to recognize and work with trade unions, and by downgrading information and consultation. To explore these important policy issues, this article reports the first representative pan-European survey of managers’ perceptions of the impact of private equity on industrial relations. Managers report that private equity investment does not result in changes to union recognition, membership density or changes in management attitudes to trade union membership. Furthermore, managers in firms recognizing unions after private equity buyouts do not report reductions in the terms and conditions subject to joint regulation. Under private equity ownership more firms report consultative committees, managers regard these as more influential on their decisions, and indicate increased consultation over firm performance and future plans. Comparing industrial relations changes in different social models in Europe, the results suggest private equity firms adapt to national systems and traditional national industrial relations differences persist after buyout.
    • Task force: U.S. Spy system behind the Times

      Lal, Rollie (The Daily Yomiuri, 1996)
    • Tax-compliant transfer pricing and responsibility accounting

      Cools, Martine; Slagmulder, Regine (Journal of Management Accounting Research, 2009)
    • Teaching note Mobile School

      Collewaert, Veroniek; Lepoutre, Jan; Stercken, Angelina (2012)
    • Teaching Note Pizza Hut B: the exit of the buy out fund

      De Vriese, Carolien; Manigart, Sophie (2007)
    • Teaching reputational risk management in the supply chain

      Lemke, Fred; Petersen, Henry L. (Supply Chain Management: An International Journal, 2013)
      This paper discusses the importance of reputational risk in the supply chain. It also explains the ways it can be mitigated via CSR. This is the management baseline that adds tremendous value for theory builders and present and future managers. Having the education of Master students in mind, the authors outline three specific teaching units that bring the conceptual underpinnings alive in an interactive learning environment.
    • Teams and teamwork

      Vanderheyden, Karlien; Cools, Eva; Debussche, Fannie (2005)
    • TeamScan

      Warmoes, Veronique; De Pauw, Ann-Sophie (2008)
    • TeamScan

      Warmoes, Veronique; De Pauw, Ann-Sophie (2008)
    • Tech wakes Banks

      Cumps, Bjorn (Intercontinental Finance Magazine, 2015)