Working Paper
Mergers, Acquisitions and Restructuring: Types, Regulation, and Patterns of Practice
An important component of corporate governance is the regulation of significant transactions ? mergers, acquisitions, and restructuring. This...
Read more
Deal Initiation in Mergers and Acquisitions
We investigate the effects of target initiation in mergers and acquisitions. We find target-initiated deals are common and that important motives for...
Read more
Understanding the Motives for Director Selection
Director selection is crucial in corporate governance, but little is known about the relative importance of individual director attributes in the...
Read more
The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune
Mergers and acquisitions are often motivated by the intention of creating value from intangible assets. We develop a novel word list of intangibles and...
Read more
Are Managers Listening to Twitter? Evidence from Mergers & Acquisitions
This paper studies the feedback effects of social media on corporate investment decisions. Using a comprehensive sample of millions of tweets from a...
Read more
Why Have M&A Contracts Grown? Evidence from Twenty Years of Deals
Over 20 years, M&A contracts have more than doubled in size ? from 35 to 88 single-spaced pages in this paper?s font. They have also grown...
Read more
Activism and Empire Building
Hedge fund activists target firms engaging in empire building and improve their future acquisition and divestiture strategy. Following...
Read more
Understanding the (Ir)Relevance of Shareholder Votes on M&A Deals
Has corporate law and its bundles of fiduciary obligations become irrelevant? Over the last thirty years, the American public corporation has...
Read more
A New EU Business Combination Form to Facilitate Cross-Border M&A: The Compulsory Share Exchange
Facilitating cross-border mergers and acquisitions has long been one of the objectives of European company law directives and regulations. This...
Read more