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Takeover Bids versus Proxy Fights in Contests for Corporate Control
Bebchuk, Lucian Arye; Hart, Oliver - C.E.P.R. Discussion Papers - 2001
US over poison pills and in Europe over the new EEC directive on takeovers. …
Persistent link: https://www.econbiz.de/10005123692
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Firms' Decisions on Where to Incorporate
Bebchuk, Lucian Arye; Cohen, Alma - C.E.P.R. Discussion Papers - 2002
This Paper empirically investigates the decisions of US publicly traded firms on where to incorporate. We study the features of states that make them attractive to incorporating firms and the characteristics of firms that determine whether they incorporate in or out of their state of location....
Persistent link: https://www.econbiz.de/10005123946
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The Case Against Board Veto in Corporate Takeovers
Bebchuk, Lucian Arye - C.E.P.R. Discussion Papers - 2002
This Paper argues that once undistorted shareholder choice is ensured – which can be done by making it necessary for hostile bidders to win a vote of shareholder support – boards should not have veto power over takeover bids. The Paper considers all of the arguments that have been offered...
Persistent link: https://www.econbiz.de/10005124408
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Managers, Workers and Corporate Control
Pagano, Marco; Volpin, Paolo - C.E.P.R. Discussion Papers - 2002
incumbent managers: to protect their high wages, they resist hostile takeovers, by refusing to sell their shares to the raider …
Persistent link: https://www.econbiz.de/10005497936
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Optimal Defaults for Corporate Law Evolution
Bebchuk, Lucian Arye; Hamdani, Assaf - C.E.P.R. Discussion Papers - 2002
Public corporations live in a dynamic and ever-changing business environment. This Paper examines how courts and legislators should choose default arrangements in the corporate area to address new circumstances. We show that the interests of the shareholders of existing companies would not be...
Persistent link: https://www.econbiz.de/10005656367
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Imports and TFP at the Firm Level: The Role of Absorptive Capacity
Augier, Patricia; Cadot, Olivier; Dovis, Marion - C.E.P.R. Discussion Papers - 2009
This paper estimates the effect of the decision to import intermediate goods and capital equipment on Total Factor Productivity (TFP) at the firm level on a panel of Spanish firms covering the period between 1991 and 2002. We use two alternative approaches. In the first, we estimate TFP using...
Persistent link: https://www.econbiz.de/10004972170
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The Catch-22 of External Validity in the Context of Constraints to Firm Growth
Fischer, Greg; Karlan, Dean S. - C.E.P.R. Discussion Papers - 2015
We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External...
Persistent link: https://www.econbiz.de/10011184078
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India's De-Industrialization Under British Rule: New Ideas, New Evidence
Clingingsmith, David; Williamson, Jeffrey G - C.E.P.R. Discussion Papers - 2005
India was a major player in the world export market for textiles in the early 18th century, but by the middle of the 19 … some decline, and India underwent secular de-industrialization as a consequence. While India produced about 25% of world … about the relative role played by domestic and foreign forces in India’s de-industrialization. The construction of new …
Persistent link: https://www.econbiz.de/10005136603
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Political Selection and the Quality of Government: Evidence from South India
Besley, Timothy J.; Pande, Rohini; Rao, Vijayendra - C.E.P.R. Discussion Papers - 2005
This paper uses household data from India to examine the economic and social status of village politicians, and how …
Persistent link: https://www.econbiz.de/10005661887
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Monitoring Managers: Does it Matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - C.E.P.R. Discussion Papers - 2009
We test under what circumstances boards discipline managers and whether such interventions improve performance. We exploit exogenous variation due to the staggered adoption of corporate governance laws in formerly Communist countries coupled with detailed ‘hard’ information about the...
Persistent link: https://www.econbiz.de/10008491717