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Morck, Randall - 2010

-style takeover defences, such as poison pills and staggered boards, but allows voting caps and pyramiding in their stead. Various … investors and mandatory takeover bids …

Persistent link: https://www.econbiz.de/10013135809

A New Approach to Takeover Law and Regulatory Competition

Bebchuk, Lucian A. - 2001

The development of U.S. state takeover law in the past three decades has produced considerable and quite possibly … excessive protection for incumbent managers from hostile takeovers. Although the shortcomings of state takeover law have been … produce even worse takeover arrangements. This paper puts forward a novel form of federal intervention in the regulation of …

Persistent link: https://www.econbiz.de/10012787801

Federalism and Takeover Law : the Race to Protect Managers from Takeovers

Bebchuk, Lucian A.; Ferrell, Allen - 2021

state takeover law, we argue, is consistent with our theory. States have adopted antitakeover statutes that have little … competition cannot reconcile their views with the evolution of state takeover law---and should therefore reconsider their …

Persistent link: https://www.econbiz.de/10013234931

Firms' Decisions Where to Incorporate

Bebchuk, Lucian A.; Cohen, Alma - 2021

, and takeover law …

Persistent link: https://www.econbiz.de/10013227026

Capital-Market Effects of Securities Regulation : Prior Conditions, Implementation, and Enforcement

Christensen, Hans Bonde - 2011

We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...

Persistent link: https://www.econbiz.de/10013130969

Accounting for the Rise in Consumer Bankruptcies

Livshits, Igor - 2010

Personal bankruptcies in the United States have increased dramatically, rising from 1.4 per thousand working age population in 1970 to 8.5 in 2002. We use a heterogeneous agent life-cycle model with competitive financial intermediaries who can observe households' earnings, age and current asset...

Persistent link: https://www.econbiz.de/10012759871

Central Bank Transparency : Where, Why, and with What Effects?

Dincer, N. Nergiz - 2010

Greater transparency in central bank operations is the most dramatic change in the conduct of monetary policy in recent years. In this paper we present new information on its extent and effects. We show that the trend is general: a large number of central banks have moved in the direction of...

Persistent link: https://www.econbiz.de/10012760205

Counterparty Risk and the Establishment of the New York Stock Exchange Clearinghouse

Bernstein, Asaf - 2014

Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is challenging because of the co-incidence of macro-economic...

Persistent link: https://www.econbiz.de/10013047773

The Impact of the Dodd-Frank Act on Small Business

Bordo, Michael D. - 2018

There are concerns that the Dodd-Frank Act (DFA) has impeded small business lending. By increasing the fixed regulatory compliance requirements needed to make business loans and operate a bank, the DFA disproportionately reduced the incentives for all banks to make very modest loans and reduced...

Persistent link: https://www.econbiz.de/10012921541

The Costs of Entrenched Boards

Bebchuk, Lucian A. - 2004

board from removal via a hostile takeover or a proxy contest. We find that staggered boards are associated with an …

Persistent link: https://www.econbiz.de/10012785603

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