This paper is the first to provide a comprehensive analysis of how different gender balance initiatives in Europe have impacted firms' board structure. Our sample covers 18 countries over the period 2005-2018. We propose a novel indicator of the strictness of the country's gender balance...

We analyze the dynamics of takeover contests where hostile raiders compete against white knights involved by a lead blockholder of the target firm (the incumbent). We assume that the incumbent has the power to bargain with the potential bidders to set a minimum takeover price. We characterize...