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owner to deter hostile takeovers. I model the takeover process as a two-party bargaining game between the owner and a …
Persistent link: https://www.econbiz.de/10013136618
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...
Persistent link: https://www.econbiz.de/10013081207
and clear criteria for the adjustment of the mandatory bid price, within the framework of the Takeover Directive. The EFTA …
Persistent link: https://www.econbiz.de/10013084616
We determine firms' equity ownership structures and provide a theory of hostile takeovers by distinguishing the roles …-cost free' capital is scarce. We investigate the allocation of this scarce resource. A hostile takeover is the consequence of a … investors. Even though all firms are ex ante identical, some may rely on the takeover mechanism while others rely on permanent …
Persistent link: https://www.econbiz.de/10012471671
We determine firms' equity ownership structures and provide a theory of hostile takeovers by distinguishing the roles …-cost free' capital is scarce. We investigate the allocation of this scarce resource. A hostile takeover is the consequence of a … investors. Even though all firms are ex ante identical, some may rely on the takeover mechanism while others rely on permanent …
Persistent link: https://www.econbiz.de/10012783983
In this contribution, at first, we introduce a basic network framework to study pyramidal structures and wedges between ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries. Among others, we detect a strong concentration of...
Persistent link: https://www.econbiz.de/10012901128
participate in a takeover transaction at equal terms – affects target announcement returns. I use a difference …
Persistent link: https://www.econbiz.de/10012904998
Persistent link: https://www.econbiz.de/10012818242
executive and top team forced departure rates compared to that of friendly takeovers. Furthermore, prior to takeover, hostile … the hostile takeover …
Persistent link: https://www.econbiz.de/10013004215