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Milbourn, Todd T.

Overview
Works: 15 works in 38 publications in 1 language and 164 library holdings
Roles: Author
Classifications: HD31, 658.15
Publication Timeline
Key
Publications about Todd T Milbourn
Publications by Todd T Milbourn
Most widely held works by Todd T Milbourn
The value sphere : the corporate executives' handbook for creating and retaining shareholder wealth by John A Boquist( Book )
5 editions published between 2006 and 2010 in English and held by 63 libraries worldwide
This book, written in story narrative form, traces the development of a company from a start-up to a global enterprise. It develops the key concepts related to this evolution -- corporate strategy, raising external finance, capital budgeting, dividend policy, mergers and acquisition, globalization, marketing and human resource management. The focus is on topics in corporate strategy and corporate finance, and each topic is developed in depth with problem sets and reflection questions within the context of the organization's evolution
The value sphere : secrets of creating & retaining shareholder wealth by John A Boquist( Book )
1 edition published in 2000 in English and held by 19 libraries worldwide
How did increased competition affect credit ratings? by Bo Becker( Book )
9 editions published in 2010 in English and held by 7 libraries worldwide
The credit rating industry has historically been dominated by just two agencies, Moody's and S & P, leading to longstanding legislative and regulatory calls for increased competition. The material entry of a third rating agency (Fitch) to the competitive landscape offers a unique experiment to empirically examine how in fact increased competition affects the credit ratings market. Increased competition from Fitch coincides with lower quality ratings from the incumbents: rating levels went up, the correlation between ratings and market-implied yields fell, and the ability of ratings to predict default deteriorated. We offer several possible explanations for these findings that are linked to existing theories
Evolution of organizational scale and scope : does it ever pay to get bigger and less focused? by Arnoud W. A Boot( Book )
3 editions published in 2002 in English and held by 5 libraries worldwide
Sunflower management and capital budgeting by Arnoud W. A Boot( Book )
3 editions published in 2002 in English and held by 5 libraries worldwide
In organizations, ideas are often delegated for evaluation as a means of efficiently aggregating multiple information signals. However, those who delegate often find it impossible to separate the evaluation of the ideas they delegate from the evaluation of abilities of those delegated the task of assessing these ideas. This commingling of the assessment of the idea with that of the individual agent generates a tendency for the agent to ignore his or her own information and instead attempt to confirm the superior's prior belief. We refer to this as sunflower management and examine its effects on capital budgeting practices
Killing the bearer of ill tidings : a theory of consensus-provision moral hazard by Arnoud W. A Boot( Book )
2 editions published in 1998 in English and held by 3 libraries worldwide
Credit ratings as coordination mechanism by Arnoud W. A Boot( Book )
3 editions published in 2002 in English and held by 3 libraries worldwide
In this article, we provide a novel rationale for credit ratings. The rationale that we propose is that credit ratings serve as a coordinating mechanism in situations where multiple equilibria can obtain. We show that credit ratings provide a focal point for firms and their investors, and explore the vital, but previously overlooked implicit contractual relationship between a credit rating agency (CRA) and a firm through its credit watch procedures. Credit ratings can help fix the desired equilibrium and as such play an economically meaningful role. Our model provides several empirical predictions and insights regarding the expected price impact of rating changes
The theory of security design by Arnoud W. A Boot( Book )
1 edition published in 1994 in English and held by 2 libraries worldwide
The role of incentives in the theory of the firm, compensation and capital allocation by Todd T Milbourn( Book )
3 editions published in 1995 in English and held by 2 libraries worldwide
Prestige, intrafirm tournaments and failure aversion in corporate decisions by Todd T Milbourn( Book )
2 editions published in 1999 in English and held by 1 library worldwide
Managerial career concerns and investments in information by Todd T Milbourn( Article )
1 edition published in 2001 in English and held by 1 library worldwide
Managerial career concerns and project cycle time in capital budgeting by Todd T Milbourn( Book )
2 editions published in 1998 in English and held by 1 library worldwide
Killing the bearer of III tidings by Arnoud W. A Boot( Book )
1 edition published in 1998 in English and held by 1 library worldwide
Reputation and competition : evidence from the credit rating industry by Bo Becker( Book )
1 edition published in 2008 in English and held by 1 library worldwide
Fair and accurate credit ratings arguably play an important role in the financial system. In an environment absent free entry of rating agencies, the provision of quality ratings is at least partially sustained by the reputational concerns of the rating agencies. The economically significant entry of a third agency into a market that was previously best described as a duopoly provides a unique experiment to examine the effect of increased competition on the disciplining effects of reputation. Using a variety of data sources, we find that competition leads to more issuer-friendly and less informative ratings. First, the credit ratings issues by the two incumbent agencies increased toward good ratings. Second, the correlation between bond yields and ratings fell. And lastly, negative stock price responses to announced rating downgrades are larger in absolute value (a downgrade in this weaker ratings environment is even worse news). Ultimately, our findings are consistent with models that suggest competition can impede the reputational mechanism
Intrafirm capital allocation and managerial compensation by Todd T Milbourn( Book )
1 edition published in 1996 in English and held by 1 library worldwide
 
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Alternative Names
Milbourn, T.T.
Languages
English (38)
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