氏名

グエン ドゥク ジャン

グエン ドゥク ジャン

ジャン グエン

職名

講師(任期付)

所属

(政治経済学部)

連絡先

メールアドレス

メールアドレス
giangnguyen@aoni.waseda.jp

URL等

WebページURL

http://giangnguyen.org/

学歴・学位

学位

博士(経済学)

研究分野

キーワード

ファイナンス

科研費分類

社会科学 / 経済学 / 金融・ファイナンス

論文

Does Venture Capital Syndication Affect Mergers and Acquisitions?

Giang Nguyen & Le Vu

Journal of Corporate Finance査読有りForthcoming2020年-2020年

DOIlink

詳細

概要:We find that venture capital (VC) syndicate-backed targets receive higher acquisition premiums and spend more time negotiating transaction terms. The acquirers of syndicate-backed targets receive lower cumulative abnormal returns surrounding the acquisition announcements, but the returns outperform those of individual-backed targets over the long-term. We show that VC syndication creates value for entrepreneurial firms by leading to the appointment of larger and more independent boards of directors prior to acquisitions. VC syndication aligns the incentives of the acquirers’ CEO to that of their shareholders by increasing CEO equity and variable pay. Consequently, syndicate-backed targets prefer stock as the method of payment in acquisitions. Collectively, we show that VC syndication creates value for not only entrepreneurial firms but also their acquirers in the long-term.

Does seller status matter in inter-corporate asset sales?

Giang Nguyen & Hai Nguyen

Journal of Banking & Finance査読有り100p.97 - 1102019年-2019年

DOIlink

詳細

掲載種別:研究論文(学術雑誌)

概要:This paper examines the returns of asset acquirers when sellers have different statuses. We find that private sellers create lower returns for acquirers and receive higher premiums than public sellers. Both private equity and private operating sellers generate lower returns for acquirers than public sellers, but their relative gain differences are not significantly different. In addition, the gain difference cannot be explained by acquirer characteristics, sample selection effects, or means of payments, but it increases with sellers’ director ownership. We examine alternative theories to explain our results. While we do not find supportive evidence for the synergy creation and information symmetry hypothesis, we find ample evidence for the manager discretion hypothesis.

Asset sales and subsequent acquisitions

Giang Nguyen & Le Vu

International Review of Financial Analysis査読有り60p.87 - 972018年-2018年

DOI

詳細

掲載種別:研究論文(学術雑誌)

The Role of Independent Expert Reports in Australian M&A Market

Giang Nguyen

International Review of Finance査読有り18(2)p.149 - 1672018年-2018年

DOI

詳細

掲載種別:研究論文(学術雑誌)

現在担当している科目

科目名開講学部・研究科開講年度学期
経済学研究(Entrepreneurial Finance) 01政治経済学部2020春学期
経済学研究(Financial Data Analytics) 01政治経済学部2020秋学期
国際政治経済研究(Entrepreneurial Finance) 01政治経済学部2020春学期
国際政治経済研究(Financial Data Analytics) 01政治経済学部2020秋学期
Intermediate Seminar (Financial Mathematics) 01政治経済学部2020春学期
Intermediate Seminar (Financial Technology) 01政治経済学部2020秋学期
Finance 01政治経済学部2020春学期
Basic Seminar 07政治経済学部2020秋学期