We study the impact of corporate networks on the takeover process. We find that better connected companies are more … active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover … invited to the board of the combined firm in connected M&As. While connections have a clear impact on the takeover strategy …

We study the impact of corporate networks on the takeover process. We find that better connected companies are more … active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover … invited to the board of the combined firm in connected M&As. While connections have a clear impact on the takeover strategy …

of management and shareholders are more aligned, as proxied by the use of equity-based compensation, more value …-maximizing acquisitions are expected. Whereas in widely-held firms the decision power is with the management, in firms with concentrated … their own pay which could lead to excesses. We relate excess pay to how takeover decisions are received by the market, and …

made between the reduction in agency costs, stakeholder wealth transfers, tax benefits, transaction costs savings, takeover …

specifically on firms' performance around and after a takeover. Despite the aggregate M&A market amounting to several trillions USD …) long-run performance. We find that post-takeover deal performance is affected by key determinants including serial …