We consider the allocation of corporate control in a company with two large and a continuum of small shareholders …. Control is determined in a shareholders' meeting, where the large shareholders submit competing proposals in order to attract … the vote of small shareholders. The presence of multiple shareholders reduces private benefits through competition for …

I investigate whether implementation of the mandatory bid rule – the rule that grants all shareholders the right to … participate in a takeover transaction at equal terms – affects target announcement returns. I use a difference …

about how free markets can work to the benefit of all. Shareholders, not politicians, should decide how to run their … preferable to a more protectionist approach, where change is resisted, competitive pressures are weakened, and shareholders …

. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged … firm foundation. We assign a certain marginal quota to the shareholders representing the minimum share in the merged …