IDEAS home Printed from https://ideas.repec.org/a/cup/jfinqa/v49y2014i04p933-956_00.html
   My bibliography  Save this article

Antitakeover Provisions and Shareholder Wealth: A Survey of the Literature

Author

Listed:
  • 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.

Suggested Citation

  • Straska, Miroslava & Waller, H. Gregory, 2014. "Antitakeover Provisions and Shareholder Wealth: A Survey of the Literature," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 49(4), pages 933-956, August.
    • Handle: RePEc:cup:jfinqa:v:49:y:2014:i:04:p:933-956_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022109014000532/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Al-Hadi, Ahmed & Habib, Ahsan, 2023. "Consequences of state-level regulations in accounting, finance, and corporate governance: A review," Advances in accounting, Elsevier, vol. 60(C).
    2. Jing Li & Lin Nan & Ran Zhao, 2018. "Corporate governance roles of information quality and corporate takeovers," Review of Accounting Studies, Springer, vol. 23(3), pages 1207-1240, September.
    3. Liu, Tingting & Mulherin, J. Harold, 2018. "How has takeover competition changed over time?," Journal of Corporate Finance, Elsevier, vol. 49(C), pages 104-119.
    4. Wang, Ying & Lahr, Henry, 2017. "Takeover law to protect shareholders: Increasing efficiency or merely redistributing gains?," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 288-315.
    5. Carline, Nicholas F. & Gogineni, Sridhar, 2021. "Antitakeover provisions and investment in mergers and acquisitions: A causal reevaluation," Journal of Corporate Finance, Elsevier, vol. 69(C).
    6. Sangjun Cho & Chune Young Chung, 2022. "Review of the Literature on Merger Waves," JRFM, MDPI, vol. 15(10), pages 1-21, September.
    7. Malhotra, Shavin & Morgan, Horatio M. & Zhu, Pengcheng, 2020. "Corporate governance and firms’ acquisition behavior: The role of antitakeover provisions," Journal of Business Research, Elsevier, vol. 118(C), pages 26-37.
    8. Kim, Incheol & Lee, Suin & Sharma, Bina, 2023. "Competition law reform and firm performance: Evidence from developing countries," Emerging Markets Review, Elsevier, vol. 56(C).
    9. Boone, Audra & Broughman, Brian & Macias, Antonio J., 2018. "Shareholder approval thresholds in acquisitions: Evidence from tender offers," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 225-245.
    10. Karpoff, Jonathan M. & Schonlau, Robert & Wehrly, Eric, 2022. "Which antitakeover provisions deter takeovers?," Journal of Corporate Finance, Elsevier, vol. 75(C).
    11. Renneboog, Luc & Vansteenkiste, Cara, 2019. "Failure and success in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 650-699.
    12. Drobetz, W. & Momtaz, Paul P., 2020. "Antitakeover Provisions and Firm Value: New Evidence from the M&A Market," Journal of Corporate Finance, Elsevier, vol. 62(C).
    13. Oscar Domenichelli & Giulia Bettin, 2021. "Generational Socioemotional Wealth and Debt Maturity: Evidence from Private Family Firms of GIPSI Countries," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(12), pages 1-67, December.
    14. Oscar Domenichelli, 2017. "Agency Conflicts, Socioemotional Wealth, and the Debt Maturity Structure of Family Firms: A Critical Analysis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(9), pages 40-51, September.
    15. Jelic, Ranko & Zhou, Dan & Ahmad, Wasim, 2021. "Do stressed PE firms misbehave?," Journal of Corporate Finance, Elsevier, vol. 66(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jfinqa:v:49:y:2014:i:04:p:933-956_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jfq .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.