Yeh, Tsung-ming - In: Review of Quantitative Finance and Accounting 42 (2014) 4, pp. 757-780
This study examines 130 Japanese firms that announced and adopted pre-warning anti-takeover measures between 2005 and 2007. Consistent with the managerial entrenchment hypothesis, the announcement-associated abnormal returns are negative and statistically significant. An examination of the...