Local markets for real estate brokerage services typically exhibit fairly strict pricing. Increased popularity of limited service brokerages provides an opportunity to study any loss in utility by sellers using these firms. Anecdotal evidence suggests that sellers experience a decreased selling...

Purpose - The purpose of this paper is to analyze the role of large equity ownership by both institutions and outside block shareholders in monitoring the board of directors’ decision to initially adopt defense mechanisms and the subsequent capital market reaction to the adoption....