Do pre-offer target stock price runups increase bidder takeover costs? We present model-based tests of this issue assuming runups are caused by signals...
For decades and decades, Delaware has been the undisputed leader in the market for corporate law. And yet, it is now clear that Delaware’s superiority...
We study the accounting and stock performance of 4,547 US acquisitions during 1989 and 2008. We categorise acquisitions into four types based on the four...
We investigate the effects of target initiation in mergers and acquisitions. We find target-initiated deals are common and that important motives for...
We analyze how employee compensation contracts of target firms affect merger terms and outcomes. Using unique data from merger agreements, we document...