The tools provided by option pricing theory of tender offer analysis provides evidence consistent with the "synergy" theory of corporate takeovers and has implications conce rning the economic effects of regulations of cash tender offers. The analysis further suggests that the market prices...

We examine the relation between a board's decision to reject antitakeover provisions of Pennsylvania Senate Bill 1310 and subsequent labor market opportunities of those same board members. Compared to directors retaining all provisions, directors rejecting all protective provisions of SB1310 are...

This paper examines the relation between the premium on closed-end funds and organizational features of the funds and advisors, including the compensation scheme of the investment advisor. We find that the fund premium is larger when: (a) the advisor's compensation is more sensitive to fund...