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Working Papers

Faculty and fellows of the Program on Corporate Governance have released the following working papers and published papers relating to mergers and acquisitions:

Staggered Boards and the Wealth of Shareholders:
Evidence from Two Natural Experiments

Lucian Bebchuk, Alma Cohen and Charles C.Y. Wang
Harvard Law School Olin Discussion Paper No. 697, June 2011.

Golden Parachutes and the Wealth of Shareholders
Lucian Bebchuk, Alma Cohen and Charles C.Y. Wang
Harvard Law School Olin Discussion Paper No. 683, December 2010.

The Powerful and Pervasive Effects of Ownership on M&A
John C. Coates
Harvard Law School Olin Discussion Paper No. 669, June 2010.

Bundling and Entrenchment
Lucian A. Bebchuk and Ehud Kamar
Subsequently published in 123(7) Harvard Law Review 1551-1595 (May 2010).

Trigger Happy or Gun Shy? Dissolving Common-Value Partnerships with Texas Shootouts
Richard R. W. Brooks, Claudia M. Landeo, and Kathryn E. Spier, 3/2009.
Subsequently published 41(4) RAND Journal fo Economics 649-673, 2010.

What Matters in Corporate Governance
Lucian A. Bebchuk, Alma Cohen, and Allen Ferrell, 9/2004
Subsequently published in 22 Review of Financial Studies 783-827 (2009).

Bargaining in the Shadow of Peoplesoft's (Defective) Poison Pill
Guhan Subramanian, 12/2006
Subsequently published in Harvard Negotiation Law Review (2006).

Regulating Post-Bid Embedded Defenses: Lessons from Oracle versus Peoplesoft
Jennifer Arlen, 10/2006
Subsequently published in 17 Harvard Negotiation Law Review 71 (Winter 2007).

Price Considerations in the Market for Corporate Law
Michal Barzuza, 8/2004
Subsequently published in 26 Cardozo Law Review 129-214 (2004).

The Costs of Entrenched Boards
Lucian A. Bebchuk and Alma Cohen, 6/2004
Subsequently published in 78 Journal of Financial Economics 409-433 (2005).

Post-Siliconix Freeze-Outs: Theory, Evidence and Policy
Guhan Subramanian, 4/2004
Subsequently published in Journal of Legal Studies (2007).

Why Continental European Takeover Law Matters
Allen Ferrell, 12/2003
Subsequently published in Reforming Company and Takeover Law in Europe by Ferrarini, Hopt, Winter Wymeersch (eds), Oxford University Press (July 2004).

Ownership, Takeovers and EU Law: How Contestable Should EU Corporations Be?
John C. Coates IV, 12/2003
Subsequently published in Reforming Company and Takeover Law in Europe by Ferrarini, Hopt, Winter Wymeersch (eds), Oxford University Press (July 2004).

The Costs of Entrenched Boards
Lucian A. Bebchuk and Alma Cohen, 11/2003.
Subsequently published in 78 Journal of Financial Economics, 409-433 (2005).

Bargaining in the Shadow of Takeover Defenses
Guhan Subramanian, 8/2003
Subsequently published in 113(3) Yale Law Journal (December 2003).

Why Firms Adopt Antitakeover Arrangements
Lucian Arye Bebchuk, 04/2003.
Subsequently published in 152 University of Pennsylvania Law Review 713-753 (2003).

The Drivers of Market Efficiency in Revlon Transactions
Guhan Subramanian, 03/2003.
Subsequently published in 28 Journal of Corporation Law 691 (2003).

The Trouble With Staggered Boards: A Reply to Georgeson's John Wilcox
Lucian A. Bebchuk, John C. Coates IV and Guhan Subramanian, 02/2003
Subsequently published in 11 Corporate Governance Advisor 17-19 (2003).

An American Perspective on the New German Anti-takeover Law
Jeffrey N. Gordon, 02/2003
Subsequently published in Reforming Company and Takeover Law in Europe by Ferrarini, Hopt, Winter Wymeersch (eds), Oxford University Press (July 2004).

The Powerful Antitakeover Force of Staggered Boards: Further Findings and a Reply to Symposium Participants
Lucian A. Bebchuk, John C. Coates IV, and Guhan Subramanian, 12/2002.
Subsequently published in 55 Stanford Law Review 885-917 (2002).

The Case Against Board Veto in Corporate Takeovers
Lucian A. Bebchuk, 06/2002.
Subsequently published in69 The University of Chicago Law Review 973-1035 (2002).

On Takeover Law and Regulatory Competition
Lucian A. Bebchuk and Allen Ferrell, 05/2002.
Subsequently published in 57 The Business Lawyer 1047-1068 (2002).

Delaware's Takeover Law: The Uncertain Search for Hidden Value
Bernard Black and Reinier Kraakman, 04/2002.
Subsequently published in 95 Northwestern University Law Review 521-566 (2002).

The Hidden Virtue of Antitakeover Defenses
Sharon Hannes, 03/2002
Subsequently published in 24(5) Cardozo Law Review 1903-1970 (May 2003).

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence, and Policy
Lucian A. Bebchuk, John Coates IV, and Guhan Subramanian, 03/2002.
Subsequently published in 54 Stanford Law Review 887-951 (2002).

Takeover Bids vs. Proxy Fights in Contests for Corporate Control
Lucian A. Bebchuk and Oliver Hart, 10/2001
Harvard Olin Discussion Paper No. 336 (2001)
NBER Working Paper No.8633.

A Buy-Side Model of Lockups: Theory and Evidence
John C. Coates IV and Guhan Subramanian, 1/2000.
Subsequently published in 53 Stanford Law Review 307-396 (2000).

The Contestability of Corporate Control: A Critique of the Scientific Evidence on Takeover Defenses
John C. Coates IV, 9/1999.
Subsequently published in 79 Texas Law Review 271 (2000).

Federalism and Takeover Law: The Race to Protect Managers From Takeovers
Lucian A. Bebchuk and Allen Ferrell, 5/1999.
Subsequently published in 99 Columbia Law Review 1168-1199 (1999).



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