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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/10012462099

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

Bebchuk, Lucian Arye - 2000

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/10012471028

Firms' Decisions Where to Incorporate

Bebchuk, Lucian - 2002

, and takeover law …

Persistent link: https://www.econbiz.de/10012469604

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

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

Christensen, Hans B. - 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/10012461921

Why do Foreigners Invest in the United States?

Forbes, Kristin J. - 2008

Why are foreigners willing to invest almost $2 trillion per year in the United States? The answer affects if the existing pattern of global imbalances can persist and if the United States can continue to finance its current account deficit without a major change in asset prices and returns. This...

Persistent link: https://www.econbiz.de/10012464739

Accounting for the Rise in Consumer Bankruptcies

Livshits, Igor - 2007

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/10012465287

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

Dincer, N. Nergiz - 2007

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/10012465652

The Political Economy of Financial Regulation : Evidence from U.S. State Usury Laws in the 19th Century

Benmelech, Efraim - 2007

We investigate the causes and consequences of financial regulation by studying the political economy of U.S. state usury laws in the 19th century. We find evidence that usury laws were binding and enforced and that lending activity was affected by rate ceilings. Exploiting the heterogeneity...

Persistent link: https://www.econbiz.de/10012465805

Speculative Trading and Stock Prices : Evidence from Chinese A-B Share Premia

Mei, Jianping - 2005

The market dynamics of technology stocks in the late nineties has stimulated a growing body of theories that analyze the joint effects of short-sales constraints and heterogeneous beliefs on stock prices and trading volume. This paper examines implications of these theories using a unique data...

Persistent link: https://www.econbiz.de/10012467321

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