high takeover threat. This study examines the effects of hostile takeover threats on managerial efforts to innovate. Our … results show that more active hostile takeover markets stifle managerial efforts in corporate innovation. The findings suggest … that managers tend to be more myopic when firms are exposed to hostile takeover threats. Managers will put less effort into …

This study explores the impact of corporate takeover defenses on the extent of earnings management in the U ….S. Theoretically, it is not obvious whether takeover defenses alleviate or exacerbate earnings management. I examine four well …-known corporate takeover defenses; blank check preferred stock, poison pills, classified boards, and dual class stock. In spite of …

in religious piety across U.S. counties and investigate the effect of religious piety on anti-takeover provisions. Our … indicated by more anti-takeover defenses. We exploit historical religious piety as far back as 1952 as our instrumental variable …, more anti-takeover provisions …