pre-SOX era, entrenched managers meet or exceed analyst forecasts more often than their unentrenched counterparts when …

literature suggests that good managers use employee ownership as a reward management tool, whereas bad managers implement it for … and negative outcomes of employee ownership. Our model produces three main conclusions: (i) Low-performing managers use …-performing managers. (iii) We suggest that employee ownership should not be left only to the management's discretion because both types of …

as a defensive measure against a hostile takeover attempt. The theoretical framework concerns a listed company, the … united minority shareholders, the hard core that wants to block any hostile takeover. The hard core constructs a device based … the firm, on the price of the share, and on the attractiveness of the takeover bid. Second, this study determines the …

governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment …

) takeover bids (buying shares only); and (3) a combination of proxy fights and takeover bids in which shareholders vote on … to proxy fights alone but also to takeover bids alone. Finally, we show that, when acquisition offers are in the form of …

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 …