Zhao, Yijiang; Allen, Arthur; Hasan, Iftekhar - In: Journal of Financial and Quantitative Analysis 48 (2013) 02, pp. 637-668
We test the relationship between takeover protection and voluntary disclosure in a setting of antitakeover laws in a firm’s state of incorporation. After correcting for the endogeneity of firms’ incorporation choices, we find that firms incorporated in states with more antitakeover laws have...