Kadyrzhanova is at the University of Maryland and Rhodes-Kropf is at Harvard Business School. For helpful comments and suggestions, we thank Campbell Harvey (the Editor), an anonymous referee, Heitor Almeida, Yakov Amihud, Lucian Bebchuk, Dirk Bergemann, Patrick Bolton, Anna Bordon, James Brickley, Matthew Clayton, Steve Drucker, Richard Ericson, Antonio Falato, Laura Field, Stuart Gillan, Maria Guadalupe, Laurie Hodrick, Wei Jiang, Kose John, Steve Kaplan, Pete Kyle, Vojislav Maksimovic, Thomas Moeller, Daniel Paravisini, Francisco Perez-Gonzalez, Gordon Phillips, Nagpurnanand Prabhala, Avri Ravid, Michael Riordan, Bernard Salanie, Tano Santos, Till von Wachter, David Weinstein, Daniel Wolfenzon, Jerold Zimmerman, and seminar participants at Columbia University, Harvard Business School, INSEAD, London Business School, London School of Economics, McGill University, NYU, University of Maryland, University of Michigan, University of North Carolina, University of Notre Dame, University of Pittsburgh, University of Rochester, the 2008 Conference on Corporate Governance at Drexel University, the 2007 AFA meetings in Chicago, the 2007 Washington University Conference on Corporate Finance, and 2006 Batten Conference (William and Mary). An earlier draft of this paper was circulated under the title “Does Governance Pay, or Is Entrenchment the Way? Merger Gains and Antitakeover Provisions.” All remaining errors are ours.
Concentrating on Governance
Version of Record online: 21 SEP 2011
© 2011 the American Finance Association
The Journal of Finance
Volume 66, Issue 5, pages 1649–1685, October 2011
How to Cite
KADYRZHANOVA, D. and RHODES-KROPF, M. (2011), Concentrating on Governance. The Journal of Finance, 66: 1649–1685. doi: 10.1111/j.1540-6261.2011.01684.x
- Issue online: 21 SEP 2011
- Version of Record online: 21 SEP 2011
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