Board classification and managerial entrenchment: Evidence from the market for corporate control

By Thomas W. Bates, David A. Becher, Michael L. Lemmon. 2008

228 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2862dce73c942f58dcf93ce3228abb96f25b5794

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Citations in the corpus

Corporate Social Responsibility and Stock Price Crash Risk (2014, unknown): “The governance index is a summary measure of corporate governance based on 24 firm-specific anti-takeover and charter provisions, and is widely used in the finance and accounting literature as a proxy for restrictions on shareholder rights or management entrenchment (e.g., Bates et al., 2008).”
Corporate Governance and the Cost of Debt: Evidence from Director Limited Liability and Indemnification Provisions (2011, unknown): “1+t t 11 Therefore, similar to the incidences of classified boards as documented in the literature (Bebchuk and Cohen, 2005; Masulis et al., 2007; Bates et al., 2008; Chen, 2010), it appears that most LLI provisions were also established prior to 1990, presumably at the height of hostile takeovers,…”
Staggered Boards and Firm Value, Revisited (2013, unknown): “The sole empirical exception we could find is given by the study of Bates, Becher, and Lemmon (2008), which finds that, among others, target shareholder returns are not influenced by the presence of a staggered board.”
How Do Staggered Boards Affect Shareholder Value? Evidence from a Natural Experiment (2013, unknown): “Bates, Becher, and Lemmon (2008) report that staggered boards have a positive correlation with higher takeover premiums but also note that staggered boards are associated with a lower likelihood of acquisition and conﬁrm, consistent with earlier work, that staggered boards are associated overall…”
Bargaining power and industry dependence in mergers (2012, background): “Similarly, a line of research has found conflicting evidence on the relation between target premiums and governance provisions (Varaiya, 1987; Field and Karpoff, 2002; Subramanian, 2003; Bates, Becher, and Lemmon, 2008).”