Lucian Bebchuk and Allen Ferrell, "On Takeover Law and Regulatory Competition," 57 Business Lawyer 1047-1068 (2002).
This paper defends, and further develops, our earlier work on the
effects of regulatory competition on takeover law. We have argued
that competition for corporate charters provides incentives to states
to protect incumbent managers from hostile takeovers, and that the
empirical evidence is consistent with this account. To improve the
performance of regulatory competition, we have put forward the possibility
of choice-enhancing federal intervention; such intervention would
expand shareholder choice, and encourage
Last updated: Dec. 2002
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