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Abstract types and distributions in independent private value auctions
(Escola de Pós-Graduação em Economia da FGV, 2007-03-01)
In this note, in an independent private values auction framework, I discuss the relationship between the set of types and the distribution of types. I show that any set of types, finite dimensional or not, can be extended ...
Assessment of value creation in private equity: the acquisition of Burger King by 3G Capital
(2016-01-29)
This thesis elaborates the creation of value in private equity and in particular analyzes value creation in 3G Capital’s acquisition of Burger King. In this sense, a specific model is applied that composes value creation ...
Disentangling the effect of private and public cash flows on firm value
(2017)
This paper presents a simple model for dual-class stock shares, in which common shareholders receive both public and private cash flows (i.e. dividends and any private benefit of holding voting rights) and preferred ...
Bolivian Capitalization and Privatization: Approximation to an Evaluation
(Universidad Católica Boliviana "San Pablo". Escuela de la producción y la competitividad., 2007)
The wave of privatizations Latin America experienced during the 1990s was
integral to stabilization programs and a general reordering of states’ roles in
the regional economy. Over the past few years, however, these ...
Bolivian Capitalization and Privatization: Approximation to an Evaluation
(Universidad Católica Boliviana "San Pablo". Escuela de la producción y la competitividad., 2007)
The wave of privatizations Latin America experienced during the 1990s was
integral to stabilization programs and a general reordering of states’ roles in
the regional economy. Over the past few years, however, these ...
How well does management deliver? Creation of shareholder wealth by large public and private Brazilian firms in 2018
(2019-12)
This paper examines the performance of 157 of the 400 largest nonfinancial firms in Brazil in 2018. The metric used is the creation of value for their shareholders, represented by the difference between return on assets ...
Optimal auction with a general distribution: virtual valuation without densities
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2008-11-25)
We characterize the optimal auction in an independent private values framework for a completely general distribution of valuations. We do this introducing a new concept: the generalized virtual valuation. To show the wider ...
A note on the continuity of the optimal auction
(Elsevier, 2015)
In the independent private values auction model I study the continuity properties of the optimal auction revenue as a function of the valuations or types distribution. I show that the optimal revenue is lowersemicontinuous ...
Deregulation and Privatization of Commercial Banking
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2014)
Public versus private pricing of real estate and fundamental value discovery
(Universidad de San Andrés. Departamento de Economía, 2019-09)
This paper examines the relationship between Real Estate Investment Trust ("REIT") stock prices and the value of direct real estate owned by REITs for the past 8 years. Using panel VAR models, we argue and find evidence ...