We analyze the role of toeholds (non-controlling but significant equity stakes) as a source of information for a bidder. A toehold provides an opportunity to interact with the target and its management and in the process get a better sense of the possible synergies from a merger or takeover. A...

Tournament design variables -such as the number of teams and matches - affect attendance. This paper provides evidence of how design variables have affected attendance in the Chilean football league. We estimate the annual demand for stadium tickets with