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Insider ownership and antitakeover provisions both affect a firm's vulnerability to takeover, its value, and its managers' incentives and utility. We examine the simultaneous determination of insider ownership and takeover protection using data from mutual savings and loan associations...
Persistent link: https://www.econbiz.de/10005139302
Real option analysis typically assumes that projects are continuously evaluated and launched at precisely the time determined to be optimal, but real world projects cannot be managed in this way because of the costs of formally evaluating an investment opportunity. This paper shows that...
Persistent link: https://www.econbiz.de/10005407062