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Takeover Theory and the Law and Economics MovementSteven M. DavidoffOhio State University (OSU) - Michael E. Moritz College of Law; Ohio State University (OSU) - Department of Finance April 4, 2011 RESEARCH HANDBOOK ON THE ECONOMICS OF CORPORATE LAW, Claire Hill, Brett McDonnell, eds., Edward Elgar, 2011-2012 Abstract: This chapter, from the forthcoming Research Handbook on the Economics of Corporate Law, examines the influence of the law and economics movement on takeover theory. Beginning in 1965 with Henry Manne's famous theory of the market for corporate control and ending with the 2011 decision in Air Products v. Airgas, this chapter is an intellectual history of the law and economics field as applied to takeovers. It is also about possible new directions and topics for this field and its future use in structuring and analyzing takeover theory.
Number of Pages in PDF File: 26 Keywords: takeovers, hostile takeovers, poison pills, corporate governance, law and economics, Manne, shareholder activism, anti-takeover statutes, corporate control, tender offers, mergers Accepted Paper SeriesDate posted: April 5, 2011 ; Last revised: January 2, 2012Suggested Citation |
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