This paper empirically examines the impact of exiting the stock market on corporate innovation activities using … consisting of firms that conducted public-to-private MBO and matched firms. Also, hypotheses regarding ex-post firm innovation … going private transactions on firm innovation activities among the whole MBO firms. However, I find that firms with low ex …

This study examines the impact of staggered boards, poison pills, and unequal voting rights on corporate innovation … provisions discourage innovation. We find that the effect of staggered boards on R&D investment is more pronounced in old firms …

We analyze the effect of a firm's innovation activities on its likelihood to be acquired and the takeover premium using … a large sample of M&A transactions. We show that firms with larger innovation outputs and R&D investments are more … likely to be acquired, receive unsolicited bids, and receive multiple bids. The takeover premium increases with the target …

-financed acquisition is a joint takeover/equity-issue event. Using SEO announcement returns, we estimate through linear prediction and …

This papers analyses how horizontal mergers affect innovation activities of the merged entity and its non … predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity, a merger reduces innovation of both the merged entity and non-merging competitors in an industry with high R …

We study the effect of antitakeover provisions (ATPs) on innovation. To establish causality, we use a regression …, causal effect of ATPs on innovation. This positive effect is more pronounced in firms that are subject to a larger degree of … information asymmetry and operate in more competitive product markets. The evidence suggests that ATPs help nurture innovation by …

This paper provides a theory of strategic innovation project choice by incumbents and start-ups which serves as a … foundation for the analysis of acquisition policy. We show that prohibiting acquisitions has a weakly negative innovation effect …