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Takeover bids vs. Proxy Fights in Contests for Corporate Control
Bebchuk, Lucian - 2001
This paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded …) takeover bids (buying shares only); and (3) a combination of proxy fights and takeover bids in which shareholders vote on … cash or the acquirer's existing securities, voting shareholders can infer from the pre-vote market trading which outcome …
Persistent link: https://www.econbiz.de/10012470083
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Executive Compensation : A Survey of Theory and Evidence
Edmans, Alex - 2017
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public...
Persistent link: https://www.econbiz.de/10012455086
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Governing Misvalued Firms
Kadyrzhanova, Dalida - 2014
Equity overvaluation is thought to create the potential for managerial misbehavior, while monitoring and corporate governance curb misbehavior. We combine these two insights from the literatures on misvaluation and governance to ask 'when does governance matter?' Examining firms with standard...
Persistent link: https://www.econbiz.de/10012458864
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Horses and Rabbits? Optimal Dynamic Capital Structure from Shareholder and Manager Perspectives
Ju, Nengjiu - 2002
This paper examines optimal capital structure choice using a dynamic capital structure model that is calibrated to reflect actual firm characteristics. The model uses contingent-claim methods to value interest tax shields, allows for reorganization in bankruptcy, and maintains a long-run target...
Persistent link: https://www.econbiz.de/10012469379
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Does Corporate Governance Matter in Competitive Industries?
Giroud, Xavier - 2009
By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...
Persistent link: https://www.econbiz.de/10012463770
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The governance of not-for-profit organizations
Glaeser, Edward L. (ed.) - 2003
Persistent link: https://www.econbiz.de/10013480759
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Der aufrechte Gang im windschiefen Kapitalismus : Modelle kritischen Denkens
Dannemann, Rüdiger (ed.); Pickford, Henry W. (ed.);  … - 2018
Persistent link: https://www.econbiz.de/10011805800
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The impact of economic freedom on state legitimacy : an empirical investigation
Hindermann, Christoph Michael - 2018
Persistent link: https://www.econbiz.de/10011880838
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Governance and Comovement Under Common Ownership
Edmans, Alex - 2014
This paper studies the corporate governance and asset pricing implications of investors owning blocks in multiple firms. Common wisdom is that multi-firm ownership weakens governance because the blockholder is spread too thinly. We show that this need not be the case. In a single-firm benchmark,...
Persistent link: https://www.econbiz.de/10012458246
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Pensions, Unions and Implicit Contracts
Gustman, Alan L. - 1986
This paper analyzes the relation of pension coverage and key plan characteristics to measures of union membership and strength, and to related interactions. The large and significant relationships which are found cannot be explained by, and are often inconsistent with, predictions obtained by...
Persistent link: https://www.econbiz.de/10012477033