Deals : The Economic Structure of Business Transactions / Guhan Subramanian, Michael Klausner.
2024
HD58.6 .K574 2024
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Details
Title
Deals : The Economic Structure of Business Transactions / Guhan Subramanian, Michael Klausner.
Author
Klausner, Michael, author.
ISBN
9780674296909
0674296907
0674296907
Published
Cambridge, MA : Harvard University Press, [2024]
Copyright
©2024
Language
English
Language Note
In English.
Description
1 online resource (160 p.)
Other Standard Identifiers
10.4159/9780674296909 doi
Call Number
HD58.6 .K574 2024
Dewey Decimal Classification
658.4/052
Summary
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.
Access Note
Access limited to authorized users.
Digital File Characteristics
text file PDF
Source of Description
Description based on online resource; title from PDF title page (publisher's Web site, viewed 28. Mrz 2024).
Added Author
Subramanian, Guhan, author.
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Table of Contents
Frontmatter
Contents
Preface
INTRODUCTION
1 THE BASIC NEGOTIATION MODEL AND BARGAINING POWER
2 EX ANTE INFORMATION CHALLENGES
3 BRIDGING VALUATION GAPS WITH EARNOUTS
4 MORAL HAZARD AND INCENTIVE DESIGN
5 ASSET SPECIFICITY AND LONG-TERM CONTRACTS
6 QUANTITY AND PRICE ADJUSTMENT IN LONG-TERM CONTRACTS
7 EXITING A LONG-TERM DEAL
8 CODIFYING THE DEAL
Notes
Acknowledgments
Index
Contents
Preface
INTRODUCTION
1 THE BASIC NEGOTIATION MODEL AND BARGAINING POWER
2 EX ANTE INFORMATION CHALLENGES
3 BRIDGING VALUATION GAPS WITH EARNOUTS
4 MORAL HAZARD AND INCENTIVE DESIGN
5 ASSET SPECIFICITY AND LONG-TERM CONTRACTS
6 QUANTITY AND PRICE ADJUSTMENT IN LONG-TERM CONTRACTS
7 EXITING A LONG-TERM DEAL
8 CODIFYING THE DEAL
Notes
Acknowledgments
Index