, consistent with the notion that managers tend to be myopic when more exposed to hostile takeover threats, making investments that …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 …

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 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 …

deviation reduces CSR investments by about 8.22%. Further analysis shows that managers raised CSR investments during the crisis …, consistent with the risk-mitigation view, where managers invest in CSR to reduce their risk exposure. However, managers appear to … of the CSR investments during the crisis is motivated by managers' own risk preference. Additional robustness checks …