We provide an economic basis for permitting freezeouts of nontendering shareholders following successful takeovers. We describe a specific freezeout mechanism based on easily verifiable information that induces desirable efficiency and welfare properties in models of both corporations with...

Though widely used in executive compensation, inside debt has been almost entirely overlooked by prior work. We initiate this research by studying CEO pension arrangements in 237 large capitalization firms. Among our findings are that CEO compensation exhibits a balance between debt and equity...

Returns on international equities are characterized by jumps; moreover, these jumps tend to occur at the same time across countries leading to "systemic risk". We capture these stylized facts using a multivariate system of jump-diffusion processes where the arrival of jumps is simultaneous...