The Law and Finance of Anti-Takeover Statutes
Lawyers and financial economists have fundamentally different views of anti-takeover statutes. While corporate lawyers and academics generally...
Read moreLawyers and financial economists have fundamentally different views of anti-takeover statutes. While corporate lawyers and academics generally...
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 moreIn May 2021, Engine No. 1, an investment fund, was lauded by the responsible investment community for successfully placing three dissident independent...
Read moreWe examine whether pre-bid target stock price runups lower bidder takeover gains and deter short-term toehold purchases in the runup period. A dollar...
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