The Life-Cycle of Dual Class Firm Valuation
We examine U.S. dual and single class firms in 1980-2019 and document their valuation differences over their corporate life cycle. At the IPO, dual class...
Read moreWe examine U.S. dual and single class firms in 1980-2019 and document their valuation differences over their corporate life cycle. At the IPO, dual class...
Read moreA 1970 New York Times essay on corporate social responsibility by Milton Friedman is often said to have launched a shareholder-focused reorientation of...
Read moreThe past two decades have witnessed dramatic changes to the boards of directors of U.S. public corporations. Several recent governance reforms (...Read more
A large empirical literature studies the effects of U.S. states’ corporate law statutes on corporate actions and performance at the firm level....Read more
In Does Revlon Matter: An Empirical and Theoretical Study, available...Read more
Starting with the 1992 Cadbury Report, successive UK codes of best practice in corporate governance have emphasised the key role that non-...Read more
While disclosure regulation is often viewed as critical in promoting capital formation and the well-functioning of capital markets, tightening...Read more
Hostile takeovers have long been considered the quintessential disciplinary governance mechanism, but a similarly confrontational strategy has...Read more
Takeovers and especially models predicting takeovers have been of interest to academics and practitioners. In essence, our paper studies how...Read more
The global financial crisis gave rise to competing narratives about shareholders and their engagement in corporate governance. According to one...Read more
Parties to M&A transactions now commonly purchase insurance against breaches of the reps and warranties. In a forthcoming article, I study...Read more
This paper offers the first study of the shareholder welfare effects of poison pills and control share acquisition statutes in a research design th