Managerial Finance


Accounting and Finance

Table Of Contents: Volume 21 Issue 5

The Business Judgement Rule vs. the Efficient Market Hypothesis

Donald G. Margotta

Contests for corporate control often create a conflict between a legal principle, the business judgment rule (BJR), and an economics principle, the efficient market…

Firm Size, Antitakeover Charter Amendments, and the Effect of State Antitakeover Legislation

M. Andrew Fields, Janet M. Todd

This study investigates the impact of state antitakeover legislation on the market value of affected firms and considers the role that both acquisition attractiveness, as…

Wealth Effects from Acquiring Bankrupt Firms

Kenneth Bartunek, Jeff Madura, Alan L. Tucker

Acquisitions of bankrupt firms can be beneficial because the bankrupt targets may be more receptive to acquisition offers for the purpose of survival, courts can override…

Corporate Finance and the Legal Environment — An Introduction

M. Andrew Fields

An appreciation of the legal environment becomes more important with each passing year for anyone involved in corporate finance. A casual glance at the morning newspaper…

The Effect of Liability Exposure on the Actions of Directors and Officers of Major U.S. Firms

Bill Scroggins, William Fielding, Louise Clark

This paper presents the results from 149 responses to an August 1992 mail questionnaire survey of CEOs of the Business Week 1000 firms to examine their perception of…

Evidence of Market Overreaction to State Antitakeover Legislation

William N. Pugh, John S. Jahera

The rise in hostile corporate takeover attempts during the 1980s motivated many states to pass antitakeover legislation, often after lobbying by the management of affected…



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  • Professor Don Johnson