Initial Public Offering (IPO) outcomes are affected by the social capital of firm's chief executive officer (CEO), proxied by CEO's network centrality that identifies individual position within the hierarchy of all business executives worldwide. IPOs with CEOs who possess higher social capital...

Existing finance theory predicts that managers of takeover targets will increase leverage to enhance managerial control which can, in turn, allow target managers to thwart a takeover attempt altogether. We find that targets significantly increase leverage, by not only issuing more debt, but also...