{"id":"https://openalex.org/W1520077657","doi":"https://doi.org/10.1017/cbo9780511625855.005","title":"Property rights in assets and resistance to tender offers","display_name":"Property rights in assets and resistance to tender offers","publication_year":1990,"publication_date":"1990-10-26","ids":{"openalex":"https://openalex.org/W1520077657","doi":"https://doi.org/10.1017/cbo9780511625855.005","mag":"1520077657"},"language":"en","primary_location":{"id":"doi:10.1017/cbo9780511625855.005","doi":"https://doi.org/10.1017/cbo9780511625855.005","is_oa":false,"landing_page_url":"https://doi.org/10.1017/cbo9780511625855.005","pdf_url":null,"source":{"id":"https://openalex.org/S4306462995","display_name":"Cambridge University Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Corporate Law and Economic Analysis","raw_type":"book-chapter"},"volume":{"id":"https://openalex.org/W2157614403","display_name":"Corporate Law and Economic Analysis"},"type":"book-chapter","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://openyls.law.yale.edu/bitstream/20.500.13051/1028/2/Property_Rights_in_Assets_and_Resistance_to_Tender_Offers.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5089655945","display_name":"David D. Haddock","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"David D. Haddock","raw_affiliation_strings":["Yale University  ;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Yale University  ;","institution_ids":["https://openalex.org/I32971472"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5112602765","display_name":"Jonathan R. Macey","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jonathan R. Macey","raw_affiliation_strings":["Yale University  ;"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Yale University  ;","institution_ids":["https://openalex.org/I32971472"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5077695075","display_name":"Fred S. McChesney","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Fred S. McChesney","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":10.062,"has_fulltext":true,"cited_by_count":23,"citation_normalized_percentile":{"value":0.97494553,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":null,"issue":null,"first_page":"118","last_page":"149"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9717000126838684,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9717000126838684,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11762","display_name":"Law, Economics, and Judicial Systems","score":0.012299999594688416,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14102","display_name":"Corporate Governance and Law","score":0.004900000058114529,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/hostile-takeover-defenses","display_name":"hostile takeover defenses","score":0.6389999985694885},{"id":"https://openalex.org/keywords/tender-offers","display_name":"tender offers","score":0.7829999923706055},{"id":"https://openalex.org/keywords/corporate-property-rights","display_name":"corporate property rights","score":0.5090000033378601},{"id":"https://openalex.org/keywords/principal-agent-problem","display_name":"principal-agent problem","score":0.6830000281333923},{"id":"https://openalex.org/keywords/shareholder-monitoring","display_name":"shareholder monitoring","score":0.4180000126361847},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.5239999890327454}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6323683857917786},{"id":"https://openalex.org/C57473165","wikidata":"https://www.wikidata.org/wiki/Q7315604","display_name":"Resistance (ecology)","level":2,"score":0.5985603928565979},{"id":"https://openalex.org/C189950617","wikidata":"https://www.wikidata.org/wiki/Q937228","display_name":"Property (philosophy)","level":2,"score":0.43626293540000916},{"id":"https://openalex.org/C136221606","wikidata":"https://www.wikidata.org/wiki/Q25245116","display_name":"Tender offer","level":4,"score":0.4113664925098419},{"id":"https://openalex.org/C190253527","wikidata":"https://www.wikidata.org/wiki/Q295354","display_name":"Law and economics","level":1,"score":0.3455483317375183},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2180139422416687},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20195874571800232},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.06277969479560852},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1017/cbo9780511625855.005","doi":"https://doi.org/10.1017/cbo9780511625855.005","is_oa":false,"landing_page_url":"https://doi.org/10.1017/cbo9780511625855.005","pdf_url":null,"source":{"id":"https://openalex.org/S4306462995","display_name":"Cambridge University Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Corporate Law and Economic Analysis","raw_type":"book-chapter"},{"id":"pmh:oai:digitalcommons.law.yale.edu:fss_papers-2790","doi":null,"is_oa":true,"landing_page_url":"https://digitalcommons.law.yale.edu/fss_papers/1772","pdf_url":"https://openyls.law.yale.edu/bitstream/20.500.13051/1028/2/Property_Rights_in_Assets_and_Resistance_to_Tender_Offers.pdf","source":{"id":"https://openalex.org/S7407064349","display_name":"bepress Legal Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Faculty Scholarship Series","raw_type":"text"}],"best_oa_location":{"id":"pmh:oai:digitalcommons.law.yale.edu:fss_papers-2790","doi":null,"is_oa":true,"landing_page_url":"https://digitalcommons.law.yale.edu/fss_papers/1772","pdf_url":"https://openyls.law.yale.edu/bitstream/20.500.13051/1028/2/Property_Rights_in_Assets_and_Resistance_to_Tender_Offers.pdf","source":{"id":"https://openalex.org/S7407064349","display_name":"bepress Legal Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Faculty Scholarship Series","raw_type":"text"},"sustainable_development_goals":[{"display_name":"Peace, justice, and strong institutions","id":"https://metadata.un.org/sdg/16","score":0.6601999998092651}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1520077657.pdf","grobid_xml":"https://content.openalex.org/works/W1520077657.grobid-xml"},"referenced_works_count":38,"referenced_works":["https://openalex.org/W12031656","https://openalex.org/W168605740","https://openalex.org/W197094016","https://openalex.org/W391135635","https://openalex.org/W620782311","https://openalex.org/W634152835","https://openalex.org/W1480226944","https://openalex.org/W1526826117","https://openalex.org/W1566344170","https://openalex.org/W1574310313","https://openalex.org/W1986643504","https://openalex.org/W1996803369","https://openalex.org/W2007488747","https://openalex.org/W2011512658","https://openalex.org/W2019241877","https://openalex.org/W2021010515","https://openalex.org/W2036910311","https://openalex.org/W2037683583","https://openalex.org/W2042943874","https://openalex.org/W2043593255","https://openalex.org/W2046797387","https://openalex.org/W2060039628","https://openalex.org/W2066557547","https://openalex.org/W2068518527","https://openalex.org/W2074061242","https://openalex.org/W2094173295","https://openalex.org/W2103831244","https://openalex.org/W2131740028","https://openalex.org/W2144886363","https://openalex.org/W2156109180","https://openalex.org/W2160860931","https://openalex.org/W2500551036","https://openalex.org/W2509018420","https://openalex.org/W2747531703","https://openalex.org/W2778552890","https://openalex.org/W2797314070","https://openalex.org/W3023063752","https://openalex.org/W3044348100"],"related_works":["https://openalex.org/W2052200026","https://openalex.org/W3121572167","https://openalex.org/W391135635","https://openalex.org/W2778552890","https://openalex.org/W1977812104","https://openalex.org/W1588925083","https://openalex.org/W2048218819","https://openalex.org/W2153336072","https://openalex.org/W4231345704","https://openalex.org/W2148436731"],"abstract_inverted_index":{"The":[0,183,194],"recent":[1],"spate":[2],"of":[3,16,44,66,83,99,133,163],"highly":[4],"publicized":[5],"hostile":[6],"tender":[7,192],"offers":[8,214],"has":[9,26,103],"prompted":[10],"questions":[11],"about":[12],"the":[13,24,35,59,63,67,81,88,97,116,181,202],"proper":[14,161],"reaction":[15],"target":[17,113],"firm":[18,114],"management":[19,47],"to":[20,31,48,50,56,73,158,191,196,211],"takeover":[21,51],"bids.":[22],"Traditionally,":[23],"law":[25],"not":[27,39,155],"constrained":[28],"management's":[29],"ability":[30],"resist":[32,74],"acquisition.":[33],"To":[34],"contrary,":[36],"courts":[37],"recognize":[38],"just":[40],"\u201ca":[41],"large":[42],"reservoir":[43],"authority\u201d":[45],"in":[46,62],"respond":[49],"bids,":[52],"but":[53],"\u201can":[54],"obligation":[55],"determine":[57],"whether":[58],"offer":[60],"is":[61,77,123,151,199],"best":[64],"interests":[65],"corporation":[68],"and":[69,72,93,137,215],"its":[70],"shareholders,\u201d":[71],"if":[75,144,166,223],"it":[76,122,150,167],"not.":[78],"Particularly":[79],"since":[80],"publication":[82],"an":[84,134,227],"important":[85],"article":[86],"on":[87,180],"issue":[89],"by":[90,111],"Frank":[91],"Easterbrook":[92],"Daniel":[94],"Fischel,":[95],"however,":[96],"wisdom":[98],"allowing":[100],"managerial":[101,189,197],"resistance":[102,110,145,190,198],"been":[104],"challenged.":[105],"All":[106],"else":[107],"being":[108],"equal,":[109],"any":[112],"reduces":[115],"bidder's":[117],"net":[118],"expected":[119],"returns.":[120],"Consequently,":[121],"argued,":[124],"other":[125],"potential":[126],"targets":[127],"would":[128,140,187],"face":[129],"a":[130,160],"greater":[131,142],"likelihood":[132],"advantageous":[135],"takeover,":[136],"all":[138],"firms":[139],"receive":[141],"monitoring,":[143],"were":[146,168],"impermissible.":[147],"In":[148,201],"addition,":[149],"urged,":[152],"managers":[153],"could":[154],"be":[156],"trusted":[157],"seek":[159],"level":[162],"monitoring":[164],"even":[165],"attainable,":[169],"as":[170],"agency":[171],"problems":[172],"are":[173,179,209],"apparently":[174],"insurmountable":[175],"when":[176],"managers'":[177],"jobs":[178],"line.":[182],"Easterbrook\u2013Fischel":[184],"school":[185],"therefore":[186],"ban":[188],"offers.":[193],"opposition":[195],"troubling.":[200],"paradigm":[203],"market,":[204],"sellers":[205],"(or":[206],"their":[207],"agents)":[208],"permitted":[210],"reject":[212,226],"initial":[213],"bargain":[216,222],"for":[217],"higher":[218],"ones.":[219],"Sellers":[220],"cannot":[221,225],"they":[224],"offer.":[228]},"counts_by_year":[{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}