Working Paper

11 February 2021

Target Employee-Shareholder Conflicts of Interest, Unemployment Insurance and Takeover Outcomes

We examine the extent that unemployment insurance (UI) reduces employee-shareholder conflicts of interest in target firms and affects takeover outcomes. A 10% increase in UI level raises takeover likelihoods by 15- 26% over the...

Lixiong Guo | Jing Kong | Ronald Masulis
01 December 2015

The Biases of an ?Unbiased? Optional Takeovers Regime: The Mandatory Bid Threshold as a Reverse Drawbridge

The role of private ordering in takeover regulation is one of the most relevant and interesting issues regarding the optimal regime for acquisitions of listed corporations. Support for more flexible rules and freedom of contract is...

Johannes Fedderke | Marco Ventoruzzo