mechanism, may substitute for internal governance. Consistent with this notion, using a novel measure of takeover vulnerability … primarily based on state legislation, we investigate the effect of the takeover market on board characteristics with special … emphasis on board gender diversity.Design/methodology/approach – We exploit a novel measure of takeover vulnerability based on …

Exploiting two novel measures of innovation efficiency and takeover vulnerability, we explore the effect of the … takeover market on corporate innovation. Our results reveal that a more active takeover market stifles innovation considerably …, consistent with the notion that managers tend to be myopic when more exposed to hostile takeover threats, making investments that …

Exploiting a unique measure of takeover vulnerability principally based on state legislations, we investigate how … corporate carbon reduction efforts are influenced by the takeover market, which is widely regarded as a crucial instrument of … external corporate governance. Our results show that more takeover exposure brings about significantly greater efforts to …