Skip to Main content Skip to Navigation
Other publications

The Sales of Small firms : a multidimensional analysis

Abstract : This paper endogeneizes the security voting structure in an auction mechanism used to sell a small firm. The design of security voting structure allows the seller to choose between two objectives which are not mutually consistent. If the seller wants to maximize his revenue, he should retain some shares to benefit from the future dividends generated by the acquirer. At the opposite, if he wants to sell his firm to the most efficient candidate, he should sell all the shares.
Document type :
Other publications
Complete list of metadata

Cited literature [2 references]  Display  Hide  Download
Contributor : Nelly Wirth Connect in order to contact the contributor
Submitted on : Wednesday, October 17, 2007 - 1:57:23 PM
Last modification on : Tuesday, May 12, 2020 - 3:56:10 PM
Long-term archiving on: : Friday, November 25, 2016 - 5:53:38 PM


Files produced by the author(s)


  • HAL Id : halshs-00179998, version 1



Christian At, Pierre-Henri Morand. The Sales of Small firms : a multidimensional analysis. 2001. ⟨halshs-00179998⟩



Record views


Files downloads