made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries …

paper, we use states' passage of anti-takeover legislation as a source of such independent variation. Passed in the 1980's …

-controlling investors. This, in turn, increases the acquirer's capacity to raise outside funds to finance the takeover. Absent effective … effective competition, the increased outside funding capacity makes it less likely that the takeover outcome is determined by … to create value. Accordingly, stronger legal investor protection can improve the efficiency of the takeover outcome …

network as valuable to serve independently, increasing the surplus generated by a foreign acquisition. From the theory we … evidence that both the established export networks and productivity losses among target firms promote takeover by foreign …

Focusing on takeover bids whose outcome can be predicted in advance with certainty, Grossman and Hart established the …