Discounted Cash Flow Valuation for Small Cap M&A Integration*

• Date: 01 June 2013
• Author: Norman Hoffmann
• Published date: 01 June 2013
• DOI: http://doi.org/10.1111/jacf.12020

VOLUME 25 | NUMBER 2 | SPRING 2013

In This Issue: CEO Pay and Capital Markets

CEO Pay and Corporate Governance in the U.S.:

Perceptions, Facts, and Challenges

8Steven N. Kaplan, University of Chicago Booth School

of Business

How “Competitive Pay” Undermines Pay for Performance

(and What Companies Can Do to Avoid That)

26 Stephen F. O’Byrne, Shareholder Value Advisors, and

Mark Gressle, Gressle and McGinley

How to Design a Contingent Convertible Debt Requirement

That Helps Solve Our Too-Big-to-Fail Problem

39 Charles W. Calomiris, Columbia University, and

Richard J. Herring, University of Pennsylvania

Syndicated Leveraged Loans During and After the Crisis

and the Role of the Shadow Banking System

63 Christopher L. Culp, Compass Lexecon and

The University of Chicago Booth School of Business

The Future of International Liquidity and the Role of China 86 Alan M. Taylor, University of Virginia, NBER, and CEPR

Private Equity and Investment in Innovation:

Evidence from Patents

95 Josh Lerner, Harvard Business School,

Morten Sorensen, Columbia University, and

Per Stromberg, Stockholm School of Economics

Two-Sided Matching: How Corporate Issuers and

Their Underwriters Choose Each Other

103 Chitru S. Fernando, University of Oklahoma,

Vladimir A. Gatchev, University of Central Florida, and

Paul A. Spindt, Tulane University

Discounted Cash Flow Valuation for Small Cap M&A Integration 116 Norman Hoffman, Dominion Enterprises, LLC and

College of William & Mary