corporate governance scholars should understand the nonfinancial motivations of shareholders when evaluating potential conflicts … controlling-versus-minority shareholders. Lastly, the PP literature should shift its rhetoric from conflicts to a good balance …

(election of directors and votes on fundamental changes), federal law grants shareholders additional voting rights. But these …'s shareholders. It finds firms alter the structure of their acquisitions to avoid shareholder voting. On its own, this finding could … shareholders' expense. Yet this Article finds no difference in returns to acquisitions that require a shareholder vote and those …

acquisition, bidders have a fundamental conflict of interests with target shareholders from which activist investors are immune …

Typically, shareholders are not sure whether boards act in their interest, or have been captured by management. They … simply enrich managers at the expense of shareholders. After observing the board's compensation and investment policies …, shareholders update the probability that the board is captured using Bayes rule. Shareholders are “outraged” if this updated …

&A) transactions, and the associations of these lawsuits with offer completion rates and takeover premia. We find that M&A offers … takeover premia in completed deals, after controlling for the same factors. Economically, the expected rise in takeover premia … shareholders. However, in general, target stock price reactions to bid announcements do not appear to fully anticipate the positive …

We investigate whether and how major shareholders influence M&A wealth effects for listed acquirers in Europe. To that … strong connections of family owners with management in family-controlled firms. Next, large institutional shareholders all … overconfidence. As to the division of M&A gains, we find that regardless of their identity, large acquirer shareholders tend to put …