, consistent with the notion that managers tend to be myopic when more exposed to hostile takeover threats, making investments that …Exploiting two novel measures of innovation efficiency and takeover vulnerability, we explore the effect of the … takeover market on corporate innovation. Our results reveal that a more active takeover market stifles innovation considerably …

corporate tax planning. Exploiting the staggered enactment of M&A laws across countries that increased the threat of takeover as … avoidance following the takeover law passage. Our analysis suggests that reduced management private benefits consumption (i … strategies, is the likely mechanism through which takeover laws impact tax avoidance. Collectively, our findings extend the …

market mechanisms, if necessary, such as financial packages that reward managers for long-term results. This is far …

mechanism, may substitute for internal governance. Consistent with this notion, using a novel measure of takeover vulnerability … primarily based on state legislation, we investigate the effect of the takeover market on board characteristics with special … emphasis on board gender diversity.Design/methodology/approach – We exploit a novel measure of takeover vulnerability based on …

a poison pill provision contributes to managerial entrenchment …

How does the possibility of being taken over affect a manager’s voluntary disclosure? This paper analyzes this question … in a setting where the manager’s disclosure complements the rival’s expertise and influences the probability the firm is …