Previous studies argue that takeover targets’ CEOs can use high leverage as a signal for commitment to undertaking … value-enhancing projects, thus deterring the takeover attempts since the bankruptcy risk associated with high leverage can … financially vulnerable to bankruptcies increase leverage around unsuccessful takeovers more than those whose CEOs are not as much …

exhibit lower post-acquisition risk and stock price performance supporting the managerial entrenchment hypothesis. Masculinity …

on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different … that as political risk increases the ownership share always decreases whereas leverage can both increase or decrease …

This paper analyzes the interaction between financial leverage and takeover activity. We develop a dynamic model of …. We demonstrate that there exists an asymmetric equilibrium in financing policies with endogenous leverage, bankruptcy …, and takeover terms, in which the bidder with the lowest leverage wins the takeover contest. Based on the resulting …

constant, rated firms increase their leverage in takeover transactions by less than their unrated counterparts. Consistent with …