We examine the impact of target management involvement as bidders in a sample of completed going-private buyouts. Announcement period and long run target shareholder returns do not appear to be lower in management involved deals. We attempt to identify disciplining mechanisms in the takeover...

We investigate the relation between corporate governance characteristics of hostile takeover targets and the choice to employ 'harmful' resistance that is not perceived as being motivated by shareholders' interests. We find that harmful resistance is associated with firms where managers have...