Directors: Older and Wiser, or Too Old to Govern?
An unintended consequence of recent governance reforms in the U.S. is firms’ greater reliance on older director candidates, resulting in noticeable...
Read moreAn unintended consequence of recent governance reforms in the U.S. is firms’ greater reliance on older director candidates, resulting in noticeable...
Read moreWe rationalize why leverage in buyouts differs from corporate leverage at large by merging two strands of buyout theory that focus on problems of public...
Read moreThis paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded corporations with dispersed ownership....
Read moreThis paper, which was prepared for a University of Illinois College of Law symposium honoring Prof. Larry Ribstein, examines the origins of the market...
Read moreWe provide the first systematic evidence of contractual innovation in the terms of poison pill plans. In response to the increase in hedge fund activism,...
Read moreThe role of private ordering in takeover regulation is one of the most relevant and interesting issues regarding the optimal regime for acquisitions of...
Read moreWe study how transparency affects takeover probability and stock returns. If transparency helps acquiring firms to determine target value or synergy,...
Read moreThis essay argues that, to address the Covid-19 crisis, in addition to creating a special temporary insolvency regime, relaxing provisions for...
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