Takeovers

Creditor Rights, Claims Enforcement, and Bond Returns in Mergers and Acquisitions

By means of an international sample of cross-border mergers and acquisitions (M&As) involving firms with outstanding Eurobonds from the US,...

Corporate Governance and Acquirer Returns

Disclosure Regulation and Corporate Acquisitions

This paper examines the effect of disclosure regulation on the takeover market. We study the implementation of a recent European regulation that...

Private Equity Takeovers and Employment in the UK: some Empirical Evidence

This study investigates the employment consequences of private equity acquisitions, in particular institutional buy-outs (IBOs), in the UK. It...

Are Stock-Financed Takeovers Opportunistic?

The more the target knows about the bidder, the more difficult it is to pay with overpriced shares. Thus, under bidder opportunism, the fraction of stock...

Delaware and the Transformation of Corporate Governance

The corporate governance arrangements of publicly traded companies have been transformed over the past four decades. Various observers have...

Putting Technology to Good Use for Society: the Role of Corporate, Competition and Tax Law

Innovation and its main output, technology, are changing the way we work, socialise, vote, and live. New technologies have improved our lives and made...

Do Employee Interests Affect Target Board Decisions About Acquisition Offers? Evidence from Changes in Unemployment Insurance

We explore whether employee interests affect the evaluation of acquisition offers by target boards of directors. Exploiting changes in state...

Make It or Break It: The Break-Through Rule as a Break-Through for the European Takeover Directive?

The Biases of an ?Unbiased? Optional Takeovers Regime: The Mandatory Bid Threshold as a Reverse Drawbridge

The role of private ordering in takeover regulation is one of the most relevant and interesting issues regarding the optimal regime for acquisitions of...

Takeover Bids vs. Proxy Fights in Contests for Corporate Control

This paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded corporations with dispersed ownership....

On Inference When Using State Corporate Laws for Identification

A popular research design identifies the effects of corporate governance by (changes in) state laws, clustering standard errors by state of...