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 …

responds more to increases in shareholders' return performance than to decreases. Further, this asymmetry is stronger when …

In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where … management quality - measured using a new survey tool - is strongly correlated with financial and clinical outcomes such as … a greater number of neighboring hospitals) is positively correlated with increased management quality, and this …