Representation and Warranty Clause and Disclosure of Information in Acquisitions
- 10 Downloads
In this study, we analyze that whether represent and warranty clauses can solve information asymmetries between the seller and the buyer concerning with the firm value and the amount of damages in the future. In concrete, we derive the conditions to be solved the asymmetric information among them under anti-sandbagging provision and pro-sandbagging provision.
- Kumar, P., et al. 2012. Voluntary disclosures, corporate control, and investment. Journal of Accounting Research 50 (4): 1041–1076.Google Scholar
- Miceli, Thomas, J. 1997. Economics of the Law: Torts, Contracts, Property, Litigation. Oxford: Oxford University Press.Google Scholar
- Ryutaro, Nozaki. 2017 Representations and warranties insurance and incentives to agreement in acquisition. In The spring conference of the Japan association for applied economics in Kurume university. (In Japanese)Google Scholar
- M&A Keiyakukenkyukai. 2015. “Dai 2 Kai Hyoumei/hosho” Quarterly Jurist 2015 Autumn No.15, pp. 102–138. (In Japanese)Google Scholar