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Venture Capital Investments and Merger and Acquisition Activity Around the World
Phillips, Gordon M. - 2017
engage in more deals. We also explore the effects of country-level pro-takeover legislation passed internationally (positive … post-law changes in VC activity. VC activity intensifies after enactment of country-level takeover friendly legislation and …
Persistent link: https://www.econbiz.de/10012941971
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The Case Against Board Veto in Corporate Takeovers
Bebchuk, Lucian A. - 2009
hostile bidders to win a vote of shareholder support -- boards should not have veto power over takeover bids. The paper … decisions, directors' superior information, bargaining by management, pressures on managers to focus on the short …
Persistent link: https://www.econbiz.de/10012767824
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Selling Failed Banks
Granja, Joao - 2014
We study the recent episode of bank failures and provide simple facts to better understand who acquires failed banks and which forces drive the losses that the FDIC realizes from these sales. We document three distinct forces related to the allocation of failed banks to potential acquirers....
Persistent link: https://www.econbiz.de/10013048587
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Private Equity, Jobs, and Productivity
Davis, Steven J. - 2015
Private equity critics claim that leveraged buyouts bring huge job losses and few gains in operating performance. To evaluate these claims, we construct and analyze a new dataset that covers U.S. buyouts from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments before and...
Persistent link: https://www.econbiz.de/10013035041
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Merger or Acquisition? Introduction to the Handbook of Historical Economics
Bisin, Alberto; Federico, Giovanni - 2023
The relationship between history and economics as academic disciplines is methodologically subtle and sociologically contested. If the Cliometric revolution can be characterized as an acquisition of economics by history, the most recent trends in Historical Economics appear to turn this...
Persistent link: https://www.econbiz.de/10014257164
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Liquidity Mergers
Almeida, Heitor - 2011
We study the interplay between corporate liquidity and asset reallocation opportunities. Our model shows that financially distressed firms are acquired by liquid firms in their industries even when there are no operational synergies associated with the merger. We call these transactions...
Persistent link: https://www.econbiz.de/10013130982
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Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131665
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Shareholder Democracy in Canada
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
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Is There Discretion in Wage Setting? a Test Using Takeover Legislation
Bertrand, Marianne - 2010
paper, we use states' passage of anti-takeover legislation as a source of such independent variation. Passed in the 1980's …
Persistent link: https://www.econbiz.de/10013137228
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CEO Preferences and Acquisitions
Jenter, Dirk - 2011
of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … in takeover activity appears discretely at the age-65 threshold, with no gradual increase as CEOs approach retirement age …
Persistent link: https://www.econbiz.de/10013117399