takeover imposed by the market for corporate control. We complement other empirical studies on managerial compensation and … consists of 51 firms in the U.S. oil industry from 1977 to 1994. Third, we employ ex ante measures of the threat of takeover at … the individual firm level which are superior to ex post measures like actual takeover occurrence or past incidence of …

This paper investigates the optimal bidding strategy for the initial bidder in takeover contests. In the theoretical …

analysed this mpact. We find that by using divergence of opinion to predict takeover success, we can build a merger arbitrage … divergence of opinion and short sale constraints on merger announcement returns. To our knowledge, no study has analysed this … information to investors wanting to assess the impact on bidder returns of an impending merger. The evidence of an impact on …

This paper presents the results of an experimental study of takeover auctions with toeholds. Consistent with the theory …

high takeover threat. This study examines the effects of hostile takeover threats on managerial efforts to innovate. Our … results show that more active hostile takeover markets stifle managerial efforts in corporate innovation. The findings suggest … that managers tend to be more myopic when firms are exposed to hostile takeover threats. Managers will put less effort into …

We study effects on prices and quantities of a takeover in the rather concentrated German interurban bus industry. We … empirically asses the effect of the takeover of Postbus by Flixbus on industry key features, using a route-level price data set … prices significantly increase and quantities decrease in the post-takeover phase. However, these results are mainly driven by …