shareholders from the complex, pyramidal, and often obscure corporate structures. First, we show that there are large differences …

GIM Index or the proportion of activist shareholders. Following these special meetings, we find that the next quarter …

with theory of the firm based on conflicts of interests between shareholders and stakeholders, we find that establishments … of firms that experience an increase in ownership by larger and more concentrated institutional shareholders have lower … local labor markets, and for dedicated and activist institutional shareholders. The labor losses are accompanied by higher …

In a corporate freeze-out, the controller is required to compensate minority shareholders for the no-freezeout value of … that, under a regime in which frozen out minority shareholders receive a compensation equal to the pre-freezeout market …

research in the areas of collusion and merger enforcement. Research relating to both collusion and mergers has made significant …-based measurement) and theoretical work in advancing our understanding of collusive and merger-related phenomena …

guidelines reflect a substantial consensus on the appropriate template for merger assessment. Nevertheless, official protocols …

The challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast … estimating the price effects of mergers. We also describe how evidence from merger retrospectives can be used to evaluate the …

We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of … surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower …

In this paper we propose a method to evaluate the effectiveness of U.S. horizontal merger policy and apply it to the … merger had little effect …