LBO Financing
We analyze takeover financing in a model where bidders must overcome the free-rider problem to restore ownership incentives. Bootstrapping,...
Read moreWe analyze takeover financing in a model where bidders must overcome the free-rider problem to restore ownership incentives. Bootstrapping,...
Read moreLawyers and financial economists have fundamentally different views of anti-takeover statutes. While corporate lawyers and academics generally...
Read moreWe investigate the effects of target initiation in mergers and acquisitions. We find target-initiated deals are common and that important motives for...
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 moreIn cross-border acquisitions, the differences between the bidder and target corporate governance have an important impact on the takeover returns. We...
Read moreDo informed shareholders who can influence corporate decisions improve governance? We demonstrate this may not be generally true in a model 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...
Read moreI review recent takeover research which advances our understanding of ?who buys who? in the drive for productive efficiency. This research provides...
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