ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries …

participate in a takeover transaction at equal terms – affects target announcement returns. I use a difference …

This research investigates the relationship between corporate block ownership and firm financial leverage. Corporate … ownership is negatively related to the target firm's financial leverage. In addition, corporate blockholders often obtain board …

How and to what extent do managerial control benefits shape the efficiency of the takeover market? We revisit this … dark side, managers' private benefits of control distort firms' takeover incentives and hinder the reallocation role of the … takeover market. On the bright side, fear of a takeover induces underperforming managers to exert more effort and enhances the …

ownership is concentrated, as is the case in many countries outside the U.S. In this context, the more pressing agency problem … the expense of the former. When ownership is concentrated legal rules must seek to protect minority shareholders from … the shareholder structure of Latin American companies, which are characterized by high levels of ownership concentration …

This paper explores the potential role of anti-takeover provisions (ATPs) in long-term value creation. Using multiple … research designs, we find that long-term focused (innovative) firms benefit from takeover protection. We also find that the …

performance. Consistent with our aggravated expropriation hypothesis, we find that pledging firms in China initiate more takeovers … expropriate minority shareholders through self-serving corporate takeovers after the stock pledge …

. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … impact of index fund and ETF ownership on takeover success. The fraction of outstanding shares eventually being tendered is …If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …