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Conversely, acquirers with access to competitive financing use debt and overbid.
The paper shows that acquirers finance their cash bids with equity only if they lack access to competitive financing.
Endogenizing the payment method reveals that security (e.g., stock) bids carry lower premiums than cash bids, backed by competitive financing.
Once qualified (with small donations from registered voters), a candidate can accept no more private donations and receives full and competitive financing for his or her campaign.
And although we may think of scientists as operating above and beyond the honor system, in reality, under this competitive financing environment, many violate ethical behavior and cook the data.
PE firms, of course, have seen tough financing markets before, and we expect they will continue to use competitive financing processes and creative debt structures to navigate these rough waters.
Similar(48)
It says that competitive finance deals and low interest rates offered by manufacturers to shift new models can make them less expensive than second-hand vehicles.
Personal relationships can replace an unreliable legal system in which formal institutions don't enforce contracts and the law doesn't require the information disclosure on which competitive finance depends.
"We have new technologies that are commercially competitive, new financing tools and a great deal of interest and momentum in donor countries to make this transition to an economy-based renewable energy happen".
But for several years, Nebraska has lagged behind most others on the criteria for membership — primarily competitive research financing and the share of faculty in the National Academies, which issues policy reports and advice.
A long-term, highly certain price from a reliable purchaser makes it far easier to both invest capital at lower discount rates and raise competitive project financing.
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CEO of Professional Science Editing for Scientists @ prosciediting.com