Mergers and acquisitions are often disadvantageous for shareholders in the acquiring firm, but value-enhancing for the acquired firm and the CEO of the acquirer. Best corporate governance practice proposes that the roles of Chairman and CEO should be performed by different people, yet there is...

A methodology commonly used to calculate losses in shareholder actions against companies for failing to announce information relevant to the share price is based on price movements shortly after the ultimate announcement. This approach will lead to an overestimate of the loss if the market...