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- Title
Antitakeover Provisions and Shareholder Wealth: A Survey of the Literature.
- Authors
Straska, Miroslava; Waller, H. Gregory
- Abstract
We survey theoretical and empirical research on antitakeover provisions, focusing on the relation between antitakeover provisions and shareholder value. We divide the empirical studies based upon the evidence that they provide: short-term event studies, studies on performance and policy changes around adopting antitakeover provisions or passing state antitakeover laws, studies on the impact of antitakeover provisions on takeovers, studies on the relation between antitakeover provisions and firm characteristics, and long-term studies on the relation between antitakeover provisions and firm performance or policies. We also discuss the place of antitakeover provisions in the current debate about “good governance” practices.
- Subjects
ANTITAKEOVER strategies; STOCKHOLDER wealth; CORPORATE governance; STOCK prices; CORPORATION law; ORGANIZATIONAL performance
- Publication
Journal of Financial & Quantitative Analysis, 2014, Vol 49, Issue 4, p933
- ISSN
0022-1090
- Publication type
Article
- DOI
10.1017/S0022109014000532