Zeng, Hongchao - In: Review of Economics & Finance 4 (2014) August, pp. 1-15
We examine the impact of financial constraints on the relation between antitakeover protection and corporate innovation … effect associated with increased antitakeover protection. On the other hand, the disciplinary role of financial constraints … to dominate. Using the passage of business combination (BC) laws to identify an exogenous variation in antitakeover …