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Takeover bids and target directors’ incentives: the impact of a bid on directors’ wealth and board seats
16 references·16 citing·31 second hopsampled
Takeover bids and target directors’ incentives: the impact of a bid on directors’ wealth and board seats (2003)Takeover bids and target directors’ incen…Internal Monitoring Mechanisms and CEO Turnover: A Long‐Term Perspective (2001)Internal Monitoring Mechanism…Hostility in Takeovers: In the Eyes of the Beholder? (2000)Hostility in Takeovers: In th…Do independent directors enhance target shareholder wealth during tender offers? (1997)Do independent directors enha…Higher market valuation of companies with a small board of directors (1996)Higher market valuation of co…Endogenously Chosen Boards of Directors and Their Monitoring of the CEO (1995)Endogenously Chosen Boards of…Outside directors and the adoption of poison pills (1994)Outside directors and the ado…Do outside directors monitor managers? (1992)Do outside directors monitor …Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence (1991)Optimal Incentive Contracts i…Outside directors, board independence, and shareholder wealth (1990)Outside directors, board inde…Bankruptcy, boards, banks, and blockholders (1990)Bankruptcy, boards, banks, an…The Determinants of Board Composition (1988)The Determinants of Board Com…Outside directors and CEO turnover (1988)Outside directors and CEO tur…Separation of Ownership and Control (1983)Separation of Ownership and C…Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Theory of the Firm (1966)Theory of the FirmBusy directors and firm performance: Evidence from mergers (2018)Busy directors and firm perfo…The Labor Market for Directors and Externalities in Corporate Governance (2015)The Labor Market for Director…Reputation Concerns of Independent Directors: Evidence from Individual Director Voting (2015)Reputation Concerns of Indepe…The role of investment banker directors in M&A (2014)The role of investment banker…Shareholder democracy in play: Career consequences of proxy contests (2014)Shareholder democracy in play…Does the director labor market offer ex post settling-up for CEOs? The case of acquisitions (2013)Does the director labor marke…Going Overboard? On Busy Directors and Firm Value (2012)Going Overboard? On Busy Dire…Reputation penalties for poor monitoring of executive pay: Evidence from option backdating (2011)Reputation penalties for poor…Does Takeover Activity Cause Managerial Discipline? Evidence From International M&A Laws (2011)Does Takeover Activity Cause …Do auctions induce a winner's curse? New evidence from the corporate takeover market☆ (2008)Do auctions induce a winner's…Corporate Takeovers**Surveying the vast area of corporate takeovers is a daunting task, and we have undoubtedly missed many interesting contributions. We apologize to those who feel their research has been left out or improperly characterized, and welcome reactions and comments. Some of the material in Section 3 is also found in Eckbo (2008). (2008)Corporate Takeovers**Surveyin…Multiple directorships and corporate diversification (2007)Multiple directorships and co…Managerial incentives, capital reallocation, and the business cycle (2007)Managerial incentives, capita…Board structure, mergers, and shareholder wealth: A study of the mutual fund industry (2007)Board structure, mergers, and…Board classification and managerial entrenchment: Evidence from the market for corporate control (2007)Board classification and mana…Are Busy Boards Effective Monitors? (2004)Are Busy Boards Effective Mon…Determinants of corporate borrowing (1977)Management ownership and market valuation (1988)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Corporate Governance and Equity Prices (2003)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)The Nature of the Firm (1937)Mergers and the Market for Corporate Control (1965)Dynamic capabilities and strategic management (1997)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Pricing of Options and Corporate Liabilities (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Law and Finance (1998)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Theory: An Assessment and Review (1989)Strategic assets and organizational rent (1993)Founding family ownership and the agency cost of debt (2003)Corporate Governance and Accounting Scandals (2005)Corporate social responsibility and stakeholder value maximization: Evidence from mergers (2013)Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (2001)Audit committee, board of director characteristics, and earnings management (2002)Boards: Does one size fit all☆ (2007)Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* (1996)Corporate governance, chief executive officer compensation, and firm performance (1999)Managerial Incentive Problems: A Dynamic Perspective (1999)The Provision of Incentives in Firms (1999)Managerial incentives and risk-taking☆ (2005)A Survey of Corporate Governance (1997)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Why do firms differ, and how does it matter? (1991)Capital markets research in accounting (2001)Has Financial Development Made the World Riskier? (2005)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1983Separation of Ownership and Control19,446 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 1996Higher market valuation of companies with a small board of directors6,614 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 1966Theory of the Firm2,288 cited
  • 1990Outside directors, board independence, and shareholder wealth1,930 cited
  • 1991Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence1,876 cited
  • 1995Endogenously Chosen Boards of Directors and Their Monitoring of the CEO1,719 cited
  • 1992Do outside directors monitor managers?1,558 cited
  • 1988The Determinants of Board Composition1,476 cited
  • 1994Outside directors and the adoption of poison pills1,162 cited
  • 1990Bankruptcy, boards, banks, and blockholders1,087 cited
  • 2001Internal Monitoring Mechanisms and CEO Turnover: A Long‐Term Perspective1,070 cited
  • 2000Hostility in Takeovers: In the Eyes of the Beholder?851 cited
  • 1997Do independent directors enhance target shareholder wealth during tender offers?

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847 cited

Cited by

  • 2015Reputation Concerns of Independent Directors: Evidence from Individual Director Voting325 cited
  • 2012Going Overboard? On Busy Directors and Firm Value249 cited
  • 2018Busy directors and firm performance: Evidence from mergers237 cited
  • 2008Corporate Takeovers**Surveying the vast area of corporate takeovers is a daunting task, and we have undoubtedly missed many interesting contributions. We apologize to those who feel their research has been left out or improperly characterized, and welcome reactions and comments. Some of the material in Section 3 is also found in Eckbo (2008).220 cited
  • 2011Does Takeover Activity Cause Managerial Discipline? Evidence From International M&A Laws215 cited
  • 2007Board classification and managerial entrenchment: Evidence from the market for corporate control210 cited
  • 2008Do auctions induce a winner's curse? New evidence from the corporate takeover market☆201 cited
  • 2014The role of investment banker directors in M&A200 cited
  • 2011Reputation penalties for poor monitoring of executive pay: Evidence from option backdating194 cited
  • 2015The Labor Market for Directors and Externalities in Corporate Governance182 cited
  • 2007Board structure, mergers, and shareholder wealth: A study of the mutual fund industry172 cited
  • 2007Multiple directorships and corporate diversification171 cited
  • 2007Managerial incentives, capital reallocation, and the business cycle164 cited
  • 2004Are Busy Boards Effective Monitors?162 cited
  • 2014Shareholder democracy in play: Career consequences of proxy contests158 cited
  • 2013Does the director labor market offer ex post settling-up for CEOs? The case of acquisitions158 cited