instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself …

viewed as detrimental to shareholders. We also find that there is commonly a big difference between a state's ability to …, and takeover law. …

takeover regulation) that substantially affect these private benefits. We analyse why a dominant state such as Delaware can …

the shareholders of existing companies would not be served by adopting those default arrangements that public officials … between two or more default arrangements and face significant uncertainty as to which one would best serve shareholders, they …

We propose that an active takeover market provides incentives by offering acquisition opportunities to successful … performance-based pay are non-monotonic in the intensity of the takeover threat. In firms with weak boards, turnover (performance …-based pay) increases (decreases) with the intensity of the takeover threat. When choosing its acquisition policy and the quality …