Mergers and Corporate Governance

Edited by J. Harold Mulherin, Professor of Finance, Terry College of Business, University of Georgia, US

'. . . this volume is certainly worthy of study. It is a valuable reference for anybody with an interest in mergers, and the entire treatise is both instructive and stimulating in its discussions. Mulherin has done an excellent piece of work in providing an overview of some of the central themes in the mergers and corporate governance literature.'

• Contents:AcknowledgementsIntroduction J. Harold MulherinPART ITHE CAUSES AND EFFECTS OF MERGER ACTIVITY 1. Mark L. Mitchell and J. Harold Mulherin (1996), ‘The Impact of Industry Shocks on Takeover and Restructuring Activity’2. Joseph P.H. Fan (2000), ‘Price Uncertainty and Vertical Integration: An Examination of Petrochemical Firms’3. Gregor Andrade, Mark Mitchell and Erik Stafford (2001), ‘New Evidence and Perspectives on Mergers’4. David A. Becher (2000), ‘The Valuation Effects of Bank Mergers’PART IITAKEOVER BIDDING 5. Mark L. Mitchell and Kenneth Lehn (1990), ‘Do Bad Bidders Become Good Targets?’6. Richard Roll (1986), ‘The Hubris Hypothesis of Corporate Takeovers’7. Sandra Betton and B. Espen Eckbo (2000), ‘Toeholds, Bid Jumps, and Expected Payoffs in Takeovers’8. Robert G. Hansen (2001), ‘Auctions of Companies’PART IIICORPORATE RESTRUCTURING 9. J. Harold Mulherin and Audra L. Boone (2000), ‘Comparing Acquisitions and Divestitures’10. Vojislav Maksimovic and Gordon Phillips (2001), ‘The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and Are There Efficiency Gains?’11. John R. Graham, Michael L. Lemmon and Jack G. Wolf (2002), ‘Does Corporate Diversification Destroy Value?’12. Kenneth Lehn, Jeffry Netter and Annette Poulsen (1990), ‘Consolidating Corporate Control: Dual-class Recapitalizations versus Leveraged Buyouts’PART IVCORPORATE GOVERNANCE 13. Gerald T. Garvey and Peter L. Swan (1994), ‘The Economics of Corporate Governance: Beyond the Marshallian Firm’14. Robert Comment and G. William Schwert (1995), ‘Poison or Placebo? Evidence on the Deterrence and Wealth Effects of Modern Antitakeover Measures’15. J. Harold Mulherin and Annette B. Poulsen (1998), ‘Proxy Contests and Corporate Change: Implications for Shareholder Wealth’16. Stacey R. Kole and Kenneth M. Lehn (1999), ‘Deregulation and the Adaptation of Governance Structure: The Case of the U.S. Airline Industry’Name Index