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 …How and to what extent do managerial control benefits shape the efficiency of the takeover market? We revisit this …

empire-building CEOs. The prospect of a future takeover means that CEOs with no ownership stake will over-invest in some …'s position in a hostile takeover induce raiders to launch friendly takeovers sooner. The increased takeover threat induces CEOs … takeover gains are high. Optimal ownership-generated incentives and the market for corporate control add more value after …

more passive shareholders (lower ownership per non-institutional shareholder) are less likely to be takeover targets, less … likely to be acquired and command higher premiums. Using the adoption of anti-takeover law in Delaware as an exogenous shock … to anti-takeover protection, we show that the passiveness of shareholder base decreases as the takeover threat subsides …

with a takeover wave following the 1997-1998 Asian financial crisis, it is found that good corporate governance of a target …-border bidders. The findings also support the idea that the post-takeover integration process in cross-border takeovers is likely to …