Narrow search
Showing 1 - 10 of 664
Cover Image
A New Approach to Takeover Law and Regulatory Competition
Bebchuk, Lucian Arye - 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/10012470578
Cover Image
Executive Compensation and Incentives : The Impact of Takeover Legislation
Bertrand, Marianne - 1998
We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay … which reduced takeover fears allow CEO's to skim more. We compute lower bounds on the relative risk aversion coefficients … increased pay for performance offsets some of the incentive reduction caused by lower takeover threats …
Persistent link: https://www.econbiz.de/10012471981
Cover Image
Is There Discretion in Wage Setting? A Test Using Takeover Legislation
Bertrand, Marianne - 1998
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/10012472006
Cover Image
Competition Laws and Corporate Innovation
Levine, Ross - 2020
A central debate in economics concerns the relationship between competition and innovation, with some stressing that competition discourages innovation by reducing post-innovation rents and others emphasizing that more contestable markets spur currently dominant and other firms to invest more in...
Persistent link: https://www.econbiz.de/10012481835
Cover Image
Institutions, Restructuring, and Macroeconomic Performance
Caballero, Ricardo J. - 2000
A growing body of new research has emphasized the macroeconomic consequences of transactional impediments in factor markets, and their role in the recurrent restructuring requirements of modern economies. We first review the function institutional arrangements play in facilitating transactions...
Persistent link: https://www.econbiz.de/10012471041
Cover Image
The International Market for Corporate Control
Chari, Anusha - 2020
This paper documents a set of stylized facts about recent trends in cross-border M&A (CBMA) activity around the world. The facts focus on key features of CBMA such as (i) the magnitude; (ii) how it varies across industries and locations; (iii) how it compares to levels of greenfield FDI over time;...
Persistent link: https://www.econbiz.de/10012479366
Cover Image
Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU
Carbo-Valverde, Santiago - 2009
Banks are in the business of taking calculated risks. Expanding the geographic footprint of an organization's profit-making activities changes the geographic pattern of its exposure to loss in ways that are hard for regulators and supervisors to observe. This paper tests and confirms the...
Persistent link: https://www.econbiz.de/10012463202
Cover Image
Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston
Calomiris, Charles W. - 2005
The merger of Fleet and BankBoston in September 1999 resulted in a regional New England lending market in which only one large, universal bank remained. We explore the extent to which that merger resulted in monopoly rents for the combined entity in some niches within the regional loan market....
Persistent link: https://www.econbiz.de/10012467332
Cover Image
The Competition Between Competition Rules
Sinn, Hans-Werner - 1999
Open borders imply systems competition. This paper studies the implications of systems competition for the national competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since abolishing this law makes it possible for a single country...
Persistent link: https://www.econbiz.de/10012471517
Cover Image
Antitrust and Competition in Health Care Markets
Gaynor, Martin - 1999
In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a brief review of antitrust legislation. We then discuss whether and how health care is different from other industries in ways that might affect the optimality of competition. The...
Persistent link: https://www.econbiz.de/10012471682