shareholders who press for shareholder value and the importance of the equity market have traditionally been low. But there are … crumbling. Change in the direction of shareholder value is therefore limited. The take-over of Mannesmann by Vodafone after a 3 …

for corporate control have not played a significant role. This case study of the hostile takeover of Mannesmann AG by … both claims by agency theory for the efficiency of takeover markets, as well as the institutional complementarities within …

higher takeover prices, which is expected to increase shareholders' wealth. These two hypotheses have been widely tested in …The adoption of takeover protections, from the empirical side, has been focused to find supporting evidence to the … decisions for additional takeover defenses are taken. Alternatively, external control gives more negotiation power, allowing for …

for stock corporations. Recent empirical evidence, moreover, suggests that bank shareholders pushed for greater risk …

account for endogeneity concerns. Overall, our findings support the view that shareholders consider the adoption of a value …

Around the world (with the U.S. and U.K. as exceptions) concentrated ownership structures and controlling shareholders … are predominant even among listed firms. We provide novel empirical evidence how such controlling shareholders, in … family and non-family controlling shareholders and tensions within the founding family are important determinants of payout …

. Listed firms in the Netherlands have a long tradition of employing many anti-shareholder mechanisms limiting shareholders …