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We study for a sample of international mergers and acquisitions the effectiveness of three takeover bidding strategies first in preventing bidder contests and second, if a contest has occurred, in increasing the probability of a successful offer. Our results indicate that support for the...
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agent with bargaining power. In the first stage the parties bargain over the base wage and the profit share. In the second … invariant both to the imperfections prevailing in the equity market and to the relative bargaining power of the negotiating …
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