While shareholders direct influence on management decisions may be small, the takeover threat could serve as an … indirect but effective mechanism for shareholders to influence management. We introduce the takeover game, an experimental … whether to accept a takeover offers made in pre-determined periods. This novel setting has the flavor of a repeated trust game …

Abstract: While shareholders direct influence on management decisions may be small, the takeover threat could serve as … an indirect but effective mechanism for shareholders to influence management. We introduce the takeover game, an … whether to accept a takeover offers made in pre-determined periods. This novel setting has the flavor of a repeated trust game …

measure. A larger acquirer size is associated with a larger takeover size, but a lesser target ratio is relative to the size …

for takeover premia. Auctions increase the price obtained by the target, but reduce welfare compared to negotiation …

findings suggest that the shareholders of target firms earn significantly positive abnormal returns on takeover announcements … firms, there was no market reaction on takeover announcements. Apparently, there was some evidence that bidders experienced … post-event positive wealth effects on takeover announcements. But this was not true for the majority as the significant …

Takeover attempts from raiders with prior stakes in the target company (toeholds) are frequent in the market for … procedure outperforms, in terms of expected target price, conventional auctions frequently used to model takeover battles …