This paper studies how managers react to shareholder empowerment vis-à-vis governance provisions. We show that a staggered legislative change that increases noncompliance costs in the implementation of shareholder-initiated majority voting proposals is followed by an increase in the submission...

Using a new trademark-based product market competition measure and a novel trademark-merger dataset over the period 1983-2016, we show that companies facing greater product market competition are more likely to be acquirers. We further show that postmerger, compared to their non-acquiring peers,...

Does accounting regime play a role in the well-documented phenomenon of overbidding in M&As? The 2001 regulatory change from a goodwill amortization to a non-amortization regime (SFAS 142) affords us a quasi-experimental setting for testing the consequences of M&A accounting rules for acquirers'...

Sufferers' mental illnesses experience changes in communication, cognition, and behavior, exposing differences in social behavior and relationships. Many who suffer from mental health problems notice that the reduced communication ability leads to social inclusion and distrust of others. Online...

Recently, qualitative and comparatively simple positive research on tax revenue increase faster than that of GDP are mostly based upon some factors, such as economic growth, levy technology enhancement, difference between structure of GDP and that of tax, excessive increase of high-tax...

Strict liabilities prevails at major accidents. According to the Polluter Pays Principle,l it is the liable party who pays for any damage. The accidents may be very large, however, compared to the assets of the liable plant owner. The liable party may, therefore, simply go bankrupt and leave the...

We experimentally examine repeated partnerships with imperfect monitoring, where participants can unilaterally sever partnerships at any time. The experiment examines effects from changes in the value of an outside-the-partnership option. We find four main results where partners have access to...