Takeovers

Know Your Customer: Informed Trading by Banks

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade-by-trade supervisory data and...

The Performance of the European Market for Corporate Control: Evidence from the 5th Takeover Wave

A Simple Theory of Takeover Regulation in the United States and Europe

Merger negotiations with stock market feedback

Do pre-offer target stock price runups increase bidder takeover costs? We present model-based tests of this issue assuming runups are caused by signals...

An International Relations Perspective on the Convergence of Corporate Governance: German Shareholder Capitalism and the European Union, 1990-2000

Creeping Acquisitions in Europe: Enabling Companies to Be Better Safe than Sorry

Creeping acquisitions - grabs of a company?s de facto control without the launch of a formal tender offer ? are an acquisition technique that presents...

Firms' Decisions Where to Incorporate

This paper empirically investigates the decisions of publicly traded firms where to incorporate. We study the features of states that make them...

Building Enforcement Capacity for Brazilian Corporate and Securities Law

Brazil is one of the world’s largest emerging markets, with many opportunities for development. Persuading financiers to commit funds to Brazilian...

Corporate Takeover Defenses

Takeover defenses, also called antitakeover provisions, reflect decades of innovation in the interplay of offensive and defensive tactics in the...

Takeover Waves: Triggers, Performance and Motives

Takeovers, Poison Pills and Protectionism in Comparative Corporate Governance

The regulation of hostile takeovers constitutes an interesting corporate governance microcosm. It is an area where clear contrasts in approach,...

Markup Pricing Revisited

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...