Terms of the transaction, which the two firms characterized as a merger, were not disclosed.
The two firms characterized the transaction as a merger but the surviving firm will use Heller's name.
While the private equity firms characterized the period from 2003 to 2007 as a time of big deal-making and collaboration, the Massachusetts lawsuit contends that something far more sinister was at work.
In the next section, we study how firms characterized by different levels of wage rigidity respond to the recent recession.
We find that information asymmetry is a significant determinant both of the level of short-term debt and the types of financing sources for small firms (characterized by a poorer information environment).
Given that firms characterized by a rigid wage structure may choose to hire more temporary workers as a response to the crisis, we evaluate the heterogeneity of the effect based on the firms' stock of temporary workers before the crisis in order to classify them.
This has increased the complexity of the relationship between the large banking groups and small and medium businesses that base their success on their intangible assets (Itami and Thomas 1987), but it seems to have favoured the financing of large firms characterized by a greater capacity to generate quantitative information (Berger et al. 1998).
We find however that, even controlling for the average wage level in 2008 (which proxies the share of workers close to the contractual minimum threshold), the turnover is much higher in firms characterized by a higher share of temporary workers in 2008 (results available upon request).
Marshal Cohen, chief industry analyst for the market research firm NPD Group, characterized the blizzard as the "second worst" thing that could happen to retailers, after a recession.
Regarding the explicit guarantees, small innovative firms are characterized by a high incidence of intangible and firm-specific assets, which increase the risk for the potential financier (Hall 2002; Gompers 1995).
