The presence of cross-national variations in the market for takeovers reflects the greater legal protection for minority investors in the United Kingdom and the United States.

E.H. 2009. Labor and Corporate Governance: International Evidence from Restructuring Decisions. Journal of Finance, 64 (1): 341-374. Capron, L. & Guillen, M. 2009. National Corporate Governance Institutions and Post-Acquisition Target Reorganization. Strategic Management Journal, 30 (8): 803-833. Roe, M. 2002. Corporate Law’s Limits. Discussion Paper #380, Harvard John Olin Center for Law, Economics, and Business. Available at: https://www.law.harvard.edu/programs/olin_center/papers/pdf/380.pdf Schneper, W. & Guillen, M. 2004. Stakeholder Rights and Corporate Governance: A Cross-National Study of Hostile Takeovers. Administrative Science Quarterly, 49 (2): 263-295. Also of interest: Peter Hall and David Soskice (2001) ‘An introduction to varieties of capitalism’, in ibid, eds., Varieties of Capitalism: The institutional foundations of competitiveness Oxford: Oxford University Press  

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