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Deals: The Economic Structure of Business Transactions [Kõva köide]

3.83/5 (42 hinnangut Goodreads-ist)
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  • Formaat: Hardback, 176 pages, kõrgus x laius x paksus: 210x140x11 mm, kaal: 341 g
  • Ilmumisaeg: 19-Mar-2024
  • Kirjastus: Harvard University Press
  • ISBN-10: 0674495152
  • ISBN-13: 9780674495159
Teised raamatud teemal:
Deals: The Economic Structure of Business TransactionsSuurem pilt
  • Formaat: Hardback, 176 pages, kõrgus x laius x paksus: 210x140x11 mm, kaal: 341 g
  • Ilmumisaeg: 19-Mar-2024
  • Kirjastus: Harvard University Press
  • ISBN-10: 0674495152
  • ISBN-13: 9780674495159
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780674495159.html
Märksõnad:
"A successful business deal maximizes value for buyers and sellers alike. Drawing on diverse case studies and decades of experience, Michael Klausner and Guhan Subramanian show how contracting parties can reach that goal through rigorous attention to incentives, information asymmetries, exit terms, moral hazard, and opportunism"--

A successful business deal maximizes value for all parties. Drawing on diverse case studies and decades of experience, Michael Klausner and Guhan Subramanian show how contracting parties can reach that goal through rigorous attention to incentives, information asymmetries, exit terms, moral hazard, and opportunism.

Drawing on real-life cases from a wide range of industries, two acclaimed experts offer a sophisticated but accessible guide to business deals, designed to maximize value for your side.

Business transactions take widely varying forms—from multibillion-dollar corporate mergers to patent licenses to the signing of an all-star quarterback. Yet every deal shares the same goal, or at least should: to maximize the joint value created and to distribute that value among the parties. Building on decades of experience teaching and advising on business deals, Michael Klausner and Guhan Subramanian show how to accomplish this goal through rigorous attention to designing incentives, conveying information, and specifying parties’ rights and obligations.

Deals captures the range of real-life transactional complexities with case studies covering Microsoft’s acquisition of LinkedIn, Scarlett Johansson’s contract dispute with Disney over the release of Black Widow, litigation surrounding LVMH’s pandemic-disrupted acquisition of Tiffany, the feud between George Norcross and Lewis Katz over ownership of the Philadelphia Inquirer, NBC/Viacom’s negotiation with Paramount over the final three seasons of Frasier, and many more. In clear, concise terms, Klausner and Subramanian establish the basic framework of negotiation and the economic concepts that must be addressed in order to maximize value. They show how to tackle challenges, such as information asymmetry between buyer and seller, moral hazard, and opportunistic behavior. And the authors lay out responses to common risks associated with long-term contracts, emphasizing that a deal’s exit rights should be carefully considered at the start of transaction design.

Unique in its practical application of economic theory to actual dealmaking, this book will be an indispensable resource for students and for professionals across the business and legal world.

Arvustused

In plain language, with frequent use of real-world case studies, the book explores how all dealsfrom biotech-pharma collaborations to technology licenses to earnouts in mergers and acquisitionsrespond to fundamental economic challenges. By better understanding these beneath-the-surface dynamics, Klausner says, dealmakers can address issues that may not be initially apparent and unlock greater value. -- Monica Schreiber * Stanford Lawyer * Klausner and Subramanians book will be an invaluable resource for anyone who wants to understand real-world contracts and deals. The authors present many interesting cases and skillfully use basic economic ideas to understand them. There are many insights for practitioners, but academics will also learn a great deal and will be stimulated to refine their theories. -- Oliver Hart, winner of the Nobel Prize in Economics and Lewis P. and Linda L. Geyser University Professor, Harvard University This book is critical for anyone interested in exploring how structuring and negotiating a deal is more than a zero-sum gamethat sophisticated transactional professionals can create value. Using real case studies of deals covering a wide range of industries, Klausner and Subramanian make complex economics a tractable tool. The result is a theoretically rich and yet practical resource for deal practitioners. -- Ronald J. Gilson, Stern Professor of Law and Business, Emeritus, Columbia Law School, and Meyers Professor of Law and Business, Emeritus, Stanford Law School Whether you are newly enrolled in business or law school, a seasoned professional in finance, or a curious reader intrigued by the inner workings of deals that make the headlines, this is an indispensable volume to have on your bookshelf. -- Stephen R. Munger, Chairman, Global M&A, Morgan Stanley & Co. All business transactionsfrom a relatively straightforward acquisition to the most complex mergershare a set of simple and elegant underlying economic structures. The key to optimal dealmaking lies in focusing on the key economic drivers and not getting distracted by all the other noise. There is no better guide for this than Klausner and Subramanians book. -- Barry Volpert, cofounder and CEO, Crestview

Michael Klausner is Nancy and Charles Munger Professor of Business and Professor of Law at Stanford Law School, specializing in corporate law and financial regulation. Guhan Subramanian, Joseph Flom Professor of Law and Business at Harvard Law School and Douglas Weaver Professor of Business Law at Harvard Business School, is the author of Dealmaking: The New Strategy of Negotiauctions.