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We develop a dynamic tradeoff model to examine the importance of managershareholder conflicts in capital structure choice. In the model, firms face taxation, refinancing costs, and liquidation costs. Managers own a fraction of the firms equity, capture par ...
While established firms' relationships with external ventures may have significant strategic benefits, the realization of such benefits is fraught with considerable uncertainty. The real options and interorganizational learning literatures present an inter ...
We study changes in chief executive officer (CEO) contracts when firms transition from public ownership with dispersed owners to private ownership with strong principals in the form of private equity sponsors. The most significant changes are that a signif ...
This study analyzes the effect of different external technology sourcing modes on the creation of radical innovation in companies. Moreover, since prior research has indicated that exploration consists of looking beyond both organizational and technologica ...
Large shareholders may play an important role for firm performance and policies, but identifying this empirically presents a challenge due to the endogeneity of ownership structures. We develop and test an empirical framework that allows us to separate sel ...
WiFi base stations are increasingly deployed in both public spaces and private companies, and the increase in their density poses a significant threat to the privacy of users. Prior studies have shown that it is possible to infer the social ties between us ...
We study changes in chief executive officer (CEO) contracts when firms transition from public ownership with dispersed owners to private ownership with strong principals in the form of private equity sponsors. The most significant changes are that a signif ...
In this dissertation, I argue that employee mobility is a key consideration of the firm. Firms often rely on human assets to generate and maintain knowledge. When key individuals depart the firm, they take knowledge with them, potentially undermining the f ...
Prior literature tells us VCs are responsible for ousting founders from their leadership positions and replacing them with professional management around IPO time. This argument assumes all founders are equally incapable of running a company beyond the ini ...
This paper examines the effects of capital gains taxation on firms’ investment and financing decisions. We develop a real options model in which the timing of investment, the decision to default, and the firm’s capital structure are endogenously and jointl ...