Sepe, Simone M. --- "Staggered boards: practice, theory, andevidence" [2016] ELECD 1210; in Hill, A. Claire; Davidoff Solomon, Steven (eds), "Research Handbook on Mergers and Acquisitions" (Edward Elgar Publishing, 2016) 200

Book Title: Research Handbook on Mergers and Acquisitions

Editor(s): Hill, A. Claire; Davidoff Solomon, Steven

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781784711474

Section: Chapter 9

Section Title: Staggered boards: practice, theory, andevidence

Author(s): Sepe, Simone M.

Number of pages: 16

Abstract/Description:

This chapter from the forthcoming Research Handbook on Mergers and Acquisitions provides an overview of the practice, economic theory, and evidence regarding staggered boards in U.S. public companies. In doing so, it pursues a twofold purpose. First, it aims at illustrating the extent to which empirical studies documenting a detrimental effect of staggered boards on firm value have influenced both academic discussions and the practice of staggered boards, in spite of inherent methodological limitations. Second, based on more recent empirical evidence asserting the opposite conclusion, it argues for a new direction in staggered board research.