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 …

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 …

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 …

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 …

effect of hostile takeover exposure on firm complexity. Our results demonstrate that more takeover vulnerability leads to … less complex firms. Hostile takeover threats diminish managers’ job security and thus exacerbates managerial myopia. Short … complexity. Our measure of takeover susceptibility is principally based on state legislation, which is plausibly exogenous …