We study the impact of corporate networks on the takeover process. We find that better connected companies are more active bidders. When a bidder and a...
We examine whether pre-bid target stock price runups lower bidder takeover gains and deter short-term toehold purchases in the runup period. A dollar...
We examine U.S. dual and single class firms in 1980-2019 and document their valuation differences over their corporate life cycle. At the IPO, dual class...
A 1970 New York Times essay on corporate social responsibility by Milton Friedman is often said to have launched a shareholder-focused reorientation of...
In May 2021, Engine No. 1, an investment fund, was lauded by the responsible investment community for successfully placing three dissident independent...
The past two decades have witnessed dramatic changes to the boards of directors of U.S. public corporations. Several recent governance reforms (...Read more
A large empirical literature studies the effects of U.S. states’ corporate law statutes on corporate actions and performance at the firm level....Read more