Holmén, Martin; Nivorozhkin, Eugene; Rana, Rakesh - In: The European Journal of Finance 20 (2014) 4, pp. 319-340
In this paper, we use Heckman selection models to analyse the relation between the likelihood of the firm becoming a takeover target, the takeover premium, and the use of anti-takeover devices. Ordinary least squares regressions suggest that anti-takeover devices, especially dual class shares,...