Bates, Thomas W.; Becher, David A.; Lemmon, Michael L. - In: Journal of Financial Economics 87 (2008) 3, pp. 656-677
This paper considers the relation between board classification, takeover activity, and transaction outcomes for a panel of firms between 1990 and 2002. Target board classification does not change the likelihood that a firm, once targeted, is ultimately acquired. Moreover, shareholders of targets...
