Corporate Governance and Takeover Outcomes

This article adopts an agency perspective of the firm and reviews the mergers and acquisitions literature from the lens of corporate governance. We highlight how the different corporate governance mechanisms affect the takeover process and outcomes. The internal and external governance mechanisms that we consider are: the board of directors, the takeover market, blockholders, financial markets in general, product market competition, and the labor market.

Keywords: Corporate governance, Takeover, Board of Directors, Blockholder, Activist investor, Product market competition, Labor market

JEL Classification: G34

Suggested Citation: Suggested Citation

Aktas, Nihat and Croci, Ettore and Simsir, Serif Aziz, Corporate Governance and Takeover Outcomes (April 28, 2015). Available at SSRN: https://ssrn.com/abstract=2600082 or http://dx.doi.org/10.2139/ssrn.2600082