Strategy and finance are closely interrelated in the practice of management and have become even more so over the past decade. With the increased informational demands resulting from regulatory changes like Sarbanes Oxley and Regulation Fair Disclosure ("Reg FD"), the boundary between the roles of the CEO of the CFO has become increasingly blurred. Moreover, the global financial crisis has made painfully salient the need to incorporate financial considerations into managerial decisions about firm strategy.

INTRODUCTION: CORPORATE FINANCE AND STRATEGY ix

INVESTMENTS IN RECESSIONS 3

THE EFFECT OF INSTITUTIONAL FACTORS ON THE VALUE OF CORPORATE DIVERSIFICATION 37

TERMINATION PAYMENT PROVISIONS IN ACQUISITIONS: AN INFORMATION ECONOMICS PERSPECTIVE 69

CAN YOU BELIEVE IT? MANAGERIAL DISCRETION AND FINANCIAL ANALYSTS' RESPONSES TO MANAGEMENT EARNINGS FORECASTS 103

FINANCIAL HEALTH AND PARTNER ATTRACTIVENESS IN THE MARKET FOR INTER-FIRM COLLABORATION 147

ACTIVE INVOLVEMENT OF PRIVATE EQUITY FIRMS IN PORTFOLIO COMPANIES AND ITS PERFORMANCE EFFECTS 185

WHEN DO VENTURE CAPITALISTS BECOME BOARD MEMBERS IN NEW VENTURES? 231

OWNERSHIP EFFECTS ON UNRELATED DIVERSIFICATION: AN INSTITUTIONS' PERSPECTIVE 253

HOW INNOVATION CAN AFFECT OWNERSHIP STRUCTURE: THE CASE OF TRANSIENT AND DEDICATED INSTITUTIONAL INVESTORS 291

THE ROLE OF R&D IN ENTREPRENEURIAL FINANCE AND PERFORMANCE 341

HOW INNOVATION SHAPES A FIRM'S SURVIVAL PROFILE: TAKEOVERS, REGULATORY AND VOLUNTARY DELISTINGS 321

中国科学技术信息研究所