-controlling investors. This, in turn, increases the acquirer's capacity to raise outside funds to finance the takeover. Absent effective … effective competition, the increased outside funding capacity makes it less likely that the takeover outcome is determined by … ability to create value. Accordingly, stronger legal investor protection can improve the efficiency of the takeover outcome …

This article provides experimental evidence that bidder and target shareholders of a takeover announcement exhibit …

participate in a takeover transaction at equal terms – affects target announcement returns. I use a difference …

outside of their area.Collectively, these findings suggest that managers account for potential negative spillover effectsin …