kaal:claim:5583610-002

Firms carrying fewer defensive mechanisms display higher market valuations and better operating performance, which supports dismantling entrenchment devices rather than adding to them.

Source quote, verbatim

Empirical analyses have shown that firms with fewer defensive mechanisms often have higher market valuations and better operating performance, thus supporting calls for dismantling entrenchment tactics.

From

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025), 1. Introduction, p. 4
https://ssrn.com/abstract=5583610 · source PDF

Cite as

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610

Holds when

cross-sectional comparisons of U.S. firms

Classification

empiricalsupport: evidencedgovernance-designempirical-evidenceeconomics

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