On the structure of take-over models, and insider-outsider conflicts in negotiated take-overs
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Ken Binmore & Ariel Rubinstein & Asher Wolinsky, 1986. "The Nash Bargaining Solution in Economic Modelling," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 176-188, Summer.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W, 1990.
"Do Managerial Objectives Drive Bad Acquisitions?,"
Journal of Finance, American Finance Association, vol. 45(1), pages 31-48, March.
- Randall Morck & Andrei Shleifer & Robert W. Vishny, 1989. "Do Managerial Objectives Drive Bad Acquisitions?," NBER Working Papers 3000, National Bureau of Economic Research, Inc.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1990. "Do Managerial Objectives Drive Bad Acquisitions?," Scholarly Articles 27693803, Harvard University Department of Economics.
- Michael J. Fishman, 1988. "A Theory of Preemptive Takeover Bidding," RAND Journal of Economics, The RAND Corporation, vol. 19(1), pages 88-101, Spring.
- Grossman, Sanford J. & Hart, Oliver D., 1988.
"One share-one vote and the market for corporate control,"
Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 175-202, January.
- Sanford J. Grossman & Oliver D. Hart, 1987. "One Share/One Vote and The Market for Corporate Control," Working papers 440, Massachusetts Institute of Technology (MIT), Department of Economics.
- Sanford J. Grossman & Oliver D. Hart, 1987. "One Share/One Vote and the Market for Corporate Control," NBER Working Papers 2347, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Vishny, Robert W, 1988. "Value Maximization and the Acquisition Process," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 7-20, Winter.
- Berkovitch, Elazar & Khanna, Naveen, 1991. "A Theory of Acquisition Markets: Mergers versus Tender Offers, and Golden Parachutes," The Review of Financial Studies, Society for Financial Studies, vol. 4(1), pages 149-174.
- Grossman, Sanford J. & Perry, Motty, 1986.
"Sequential bargaining under asymmetric information,"
Journal of Economic Theory, Elsevier, vol. 39(1), pages 120-154, June.
- Sanford J. Grossman & Motty Perry, 1986. "Sequential Bargaining Under Asymmetric Information," NBER Technical Working Papers 0056, National Bureau of Economic Research, Inc.
- Leach, J Chris, 1992. "Repetition, Reputation, and Raiding," The Review of Financial Studies, Society for Financial Studies, vol. 5(4), pages 685-708.
- Andrei Shleifer & Robert W. Vishny, 1986. "Greenmail, White Knights, and Shareholders' Interest," RAND Journal of Economics, The RAND Corporation, vol. 17(3), pages 293-309, Autumn.
- John Sutton, 1986. "Non-Cooperative Bargaining Theory: An Introduction," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(5), pages 709-724.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W, 1989.
"Alternative Mechanisms for Corporate Control,"
American Economic Review, American Economic Association, vol. 79(4), pages 842-852, September.
- Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Alternative Mechanisms for Corporate Control," Working Papers 52, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Randall Morck & Andrei Shleifer & Robert W. Vishny, 1988. "Alternative Mechanisms for Corporate Control," NBER Working Papers 2532, National Bureau of Economic Research, Inc.
- Harris, Milton & Raviv, Artur, 1988. "Corporate control contests and capital structure," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 55-86, January.
- Stulz, ReneM., 1988. "Managerial control of voting rights : Financing policies and the market for corporate control," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 25-54, January.
- Shleifer, Andrei & Vishny, Robert W, 1986.
"Large Shareholders and Corporate Control,"
Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
- Shleifer, Andrei & Vishny, Robert W., 1986. "Large Shareholders and Corporate Control," Scholarly Articles 3606237, Harvard University Department of Economics.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Giammarino, Ronald M & Heinkel, Robert L, 1986. "A Model of Dynamic Takeover Behavior," Journal of Finance, American Finance Association, vol. 41(2), pages 465-480, June.
- Constantinides, George M., 1984. "Warrant exercise and bond conversion in competitive markets," Journal of Financial Economics, Elsevier, vol. 13(3), pages 371-397, September.
- Hirshleifer, David & Titman, Sheridan, 1990. "Share Tendering Strategies and the Success of Hostile Takeover Bids," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 295-324, April.
- YZEWYN, Dirk & MEERSMAN, Hilde & PAUWELS, Johan & ERREYGERS, Guido & SCHROYEN, Fred & DOMBRECHT, Michel & LAMPAERT, Stefaan & MAES, Ivo & MARIJSSE, Stefaan & HENDRICKX, Koen & PARYS, Wilfried & VAN HO, 1991. "YZEWYN, Dirk: “Innovation and regional development (Hans-Jürgen EWERS & Jürgen ALLESCH, Walter de Gruyter, 1990)” (p. 745); MEERSMAN, Hilde: “Open economy Macroeconomics (Ronald SHONE, Harvester Wheat," Economic and Social Journal (Economisch en Sociaal Tijdschrift), University of Antwerp, Faculty of Business and Economics, vol. 45(4), pages 745-775, December.
- Sanford J. Grossman & Oliver D. Hart, 1980. "Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 42-64, Spring.
- Mark Bagnoli, Barton L. Lipman, 1988. "Successful Takeovers without Exclusion," The Review of Financial Studies, Society for Financial Studies, vol. 1(1), pages 89-110.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Sercu, Piet & Van Hulle, Cynthia, 1995. "Financing instruments, security design, and the efficiency of takeovers: A note," International Review of Law and Economics, Elsevier, vol. 15(4), pages 373-393, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Sercu, Piet & Van Hulle, Cynthia, 1995. "Financing instruments, security design, and the efficiency of takeovers: A note," International Review of Law and Economics, Elsevier, vol. 15(4), pages 373-393, December.
- Martynova, M., 2006. "The market for corporate control and corporate governance regulation in Europe," Other publications TiSEM 8651e281-4914-41f2-ac14-1, Tilburg University, School of Economics and Management.
- Fluck, Zsuzsanna, 1999. "The Dynamics of the Management-Shareholder Conflict," The Review of Financial Studies, Society for Financial Studies, vol. 12(2), pages 379-404.
- Eckbo, B. Espen, 2009. "Bidding strategies and takeover premiums: A review," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 149-178, February.
- Goldman, Eitan & Qian, Jun, 2005. "Optimal toeholds in takeover contests," Journal of Financial Economics, Elsevier, vol. 77(2), pages 321-346, August.
- Singh, Rajdeep, 1998.
"Takeover Bidding with Toeholds: The Case of the Owner's Curse,"
The Review of Financial Studies, Society for Financial Studies, vol. 11(4), pages 679-704.
- Rajdeep Singh, 1995. "Takeover Bidding with Toeholds: The Case of the Owner's Curse," Finance 9503001, University Library of Munich, Germany.
- Panunzi, Fausto & Mueller, Holger, 2003. "Tender Offers and Leverage," CEPR Discussion Papers 3964, C.E.P.R. Discussion Papers.
- Molin, Johan, 1996. "Optimal deterrence and inducement of takeovers: An analysis of poison pills and dilution," SSE/EFI Working Paper Series in Economics and Finance 102, Stockholm School of Economics.
- Bilge Yilmaz, "undated". "A Theory of Takeover Bidding," Rodney L. White Center for Financial Research Working Papers 03-00, Wharton School Rodney L. White Center for Financial Research.
- Bilge Yilmaz, "undated". "A Theory of Takeover Bidding," Rodney L. White Center for Financial Research Working Papers 3-00, Wharton School Rodney L. White Center for Financial Research.
- Mike Burkart & Denis Gromb & Fausto Panunzi, 2006.
"Minority Blocks and Takeover Premia,"
Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(1), pages 32-49, March.
- Fausto Panunzi & Denis Gromb & Mike Burkart, 2005. "Minority Blocks And Takeover Premia," FMG Discussion Papers dp544, Financial Markets Group.
- Burkart, Mike & Gromb, Denis & Panunzi, Fausto, 2006. "Minority blocks and takeover premia," LSE Research Online Documents on Economics 69546, London School of Economics and Political Science, LSE Library.
- Burkart, Mike & Gromb, Denis & Panunzi, Fausto, 2005. "Minority blocks and takeover premia," LSE Research Online Documents on Economics 24663, London School of Economics and Political Science, LSE Library.
- Gromb, Denis & Panunzi, Fausto & Burkart, Mike, 2005. "Minority Blocks and Takeover Premia," CEPR Discussion Papers 5240, C.E.P.R. Discussion Papers.
- Trojanowski, Grzegorz, 2008. "Equity block transfers in transition economies: Evidence from Poland," Economic Systems, Elsevier, vol. 32(3), pages 217-238, September.
- Mike Burkart & Samuel Lee, 2015.
"Signalling to Dispersed Shareholders and Corporate Control,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 922-962.
- Burkart, Mike & Lee, Samuel, 2015. "Signalling to dispersed shareholders and corporate control," LSE Research Online Documents on Economics 69538, London School of Economics and Political Science, LSE Library.
- Shleifer, Andrei & Vishny, Robert W, 1997.
"A Survey of Corporate Governance,"
Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Shleifer, Andrei & Vishny, Robert W., 1997. "A Survey of Corporate Governance," Scholarly Articles 30728046, Harvard University Department of Economics.
- Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
- Lucian Arye Bebchuk, 1994. "Efficient and Inefficient Sales of Corporate Control," NBER Working Papers 4788, National Bureau of Economic Research, Inc.
- Ravid, S. Abraham & Spiegel, Matthew, 1999. "Toehold strategies, takeover laws and rival bidders," Journal of Banking & Finance, Elsevier, vol. 23(8), pages 1219-1242, August.
- Taher Hamza, 2011. "Determinants of short-term value creation for the bidder: evidence from France," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 15(2), pages 157-186, May.
- Henrik Cronqvist & Fredrik Heyman & Mattias Nilsson & Helena Svaleryd & Jonas Vlachos, 2009.
"Do Entrenched Managers Pay Their Workers More?,"
Journal of Finance, American Finance Association, vol. 64(1), pages 309-339, February.
- Vlachos, Jonas & Nilsson, Mattias & Svaleryd, Helena & Cronqvist, Henrik & Heyman, Fredrik, 2005. "Do Entrenched Managers Pay Their Workers More?," CEPR Discussion Papers 5371, C.E.P.R. Discussion Papers.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2006. "Do Entrenched Manager Pay Their Workers More?," SIFR Research Report Series 47, Institute for Financial Research.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2007. "Do Entrenched Managers Pay Their Workers More?," Working Paper Series 2007-7, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2006. "Do Entrenched Managers Pay Their Workers More?," Working Paper Series 2005-23, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Loyola, Gino, 2012. "Optimal and efficient takeover contests with toeholds," Journal of Financial Intermediation, Elsevier, vol. 21(2), pages 203-216.
- R. Glenn Hubbard & Darius Palia, 1995.
"Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms,"
RAND Journal of Economics, The RAND Corporation, vol. 26(4), pages 782-793, Winter.
- R. Glenn Hubbard & Darius Palia, 1995. "Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms," NBER Working Papers 5079, National Bureau of Economic Research, Inc.
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:eee:jbfina:v:19:y:1995:i:1:p:11-44. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbf .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.