that managers tend to be more myopic when firms are exposed to hostile takeover threats. Managers will put less effort into …Although the role of managers is crucial in shaping firm innovation, it also poses a dilemma. Because innovation is a … complicated and long-term process that requires effort and attention, managers may reduce effort in innovation when faced with …

I study a protectionist anti-takeover law introduced in 2014 that covers a subset of all firms in the economy. The law … decreased affected firms' likelihood of becoming the target of a merger or acquisition and had a negative impact on shareholder … takeover market by increasing the pay-for-performance sensitivity …