Ownership, Takeovers and EU Law: How Contestable Should EU Corporations Be?
In this paper, I draw on economic theory of ownership structure; empirical research on ownership, value and takeovers; and comparisons to US law to argue...
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Does Revlon Matter? An Empirical and Theoretical Study
We empirically examine whether and how the doctrine of enhanced judicial scrutiny that emerged from Revlon and its progeny actually affects M&A...
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Which antitakeover provisions deter takeovers?
Antitakeover provisions play a central role in corporate governance research. But there is little agreement over which, if any, provisions actually...
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Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions
This paper studies the effects of anti-takeover provisions on takeovers and identifies the channels through which they create or destroy value for...
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The Rise and Fall of Delaware's Takeover Standards
The takeover standards that we learn and teach in law school, Revlon, Unocal, Weinberger, and Blasius, appear to be in decline. In this chapter for the...
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Director Networks and Takeovers
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...
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Minority Blocks and Takeover Premia
This paper analyses takeovers of companies owned by atomistic shareholders and by one minority blockholder, all of whom can only decide to tender or...
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Shadow Pills, Visible Pill Policy, and Firm Value
We analyze the impact of the right to adopt a poison pill – a “shadow pill” – on pill policy and firm value by exploiting the quasi-natural...
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The Lifecycle Effects of Corporate Takeover Defenses
We document that the relation between firm value and the use of takeover defenses is positive for young firms but becomes negative as firms age. This value...
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