We show that merger announcement returns account for virtually all of the measured size premium. An empirical proxy for ex ante takeover exposure positively and robustly relates to cross-sectional expected returns. The relation between size and expected returns becomes positive or insignificant,...

We address whether mutual funds act effectively through the proxy voting process by supporting wealth increasing items. We examine 212,620 voting decisions made by 1,794 mutual funds from 94 fund families for 1,047 shareholder proposals voted on between July 2003 and June 2005. We find that...

Using an original dataset of fully monetized LBOs initiated from 1990-2006, we examine the emergence of an entrepreneurial transaction strategy focused on revenue growth and its incidence relative to more "classic" strategies focused on operating efficiencies. We additionally show how the...

We address whether mutual funds act effectively as monitors through the proxy voting process by supporting wealth increasing items. We examine 213,579 voting decisions made by 1,799 mutual funds from 94 fund families for 1,047 shareholder proposals voted on between July 2003 and June 2005. In...