. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … impact of index fund and ETF ownership on takeover success. The fraction of outstanding shares eventually being tendered is …If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …

How and to what extent do managerial control benefits shape the efficiency of the takeover market? We revisit this … dark side, managers' private benefits of control distort firms' takeover incentives and hinder the reallocation role of the … takeover market. On the bright side, fear of a takeover induces underperforming managers to exert more effort and enhances the …

performance. Consistent with our aggravated expropriation hypothesis, we find that pledging firms in China initiate more takeovers … expropriate minority shareholders through self-serving corporate takeovers after the stock pledge …

I analyse the effect of ownership structure and bank control on performance. I employ a unique data set of 715 German … takeovers to test whether group structure, large shareholders, and bank control affect their value to shareholders. First, I … find that takeovers increase bidder value, but generally not that of the business group surrounding it. Second, majority …

We investigate the relation between corporate governance characteristics of hostile takeover targets and the choice to … resistance is associated with firms where managers have more pronounced ownership-based and age-related incentives for control …, and directors have equity interests less aligned to stockholders. These firms also have less independent boards, are …

-increasing takeovers when the EOR is present. The model also delivers predictions about announcement returns and the incidence of block …

announcement events. Takeover announcements are not random because managers decide rationally whether to bid or not, this indicates …

show that firm value increases with the number and aggregate ownership of passive blockholders after controlling for other … the number and aggregate ownership of passive blockholders, and IEP is a channel through which passive blockholders affect …