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institutional ownership and activist institutional ownership in particular, lost value on October 4, 2010, when the SEC unexpectedly …
Persistent link: https://www.econbiz.de/10013115570
This paper studies the role of activist investors in the M&A market. Our theory proposes that activist investors have an inherent advantage relative to bidders in pressuring entrenched incumbents to sell. As counterparties to the acquisition, bidders have a fundamental conflict of interests with...
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One of the measures foreseen in the Shareholder Rights Directive for enhancement of the rights of shareholders is the regulation of draft resolutions. The article addresses the central question of whether the extent of the implementation of the requirements regulating draft resolutions and their...
Persistent link: https://www.econbiz.de/10012910268
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Pragmatic and effective research on corporate governance often turns critically on appreciating the legal institutions surrounding corporate entities—yet such nuances are often unfamiliar or poorly specified to economists and other social scientists without legal training. This chapter...
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&A) transactions, and the associations of these lawsuits with offer completion rates and takeover premia. We find that M&A offers … takeover premia in completed deals, after controlling for the same factors. Economically, the expected rise in takeover premia …
Persistent link: https://www.econbiz.de/10012976259
corporate takeover threat, this paper examines how a disciplinary market for corporate control affects accounting conservatism … shareholder protection and in those experiencing larger growth in takeover activity. Further analysis reveals that elevated … takeover threats increase conservatism through changes in capital structure and investment decisions as well as improvements in …
Persistent link: https://www.econbiz.de/10012869479