Browsing HBS Scholarly Articles by Author "Cohen, Alma"

Now showing items 1-4 of 4

    • Golden Parachutes and the Wealth of Shareholders 

      Bebchuk, Lucian Arye; Cohen, Alma; Wang, Changyi Chang-Yi (2014)
      Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association ...

    • How Do Staggered Boards Affect Shareholder Value? Evidence from a Natural Experiment 

      Cohen, Alma; Wang, Changyi Chang-Yi (Elsevier, 2013)
      The well-established negative correlation between staggered boards (SBs) and firm value could be due to SBs leading to lower value or a reflection of low-value firms' greater propensity to maintain SBs. We analyze the ...

    • Reexamining staggered boards and shareholder value 

      Cohen, Alma; Wang, Changyi Chang-Yi (Elsevier BV, 2017)
      Cohen and Wang (2013) (CW2013) provide evidence consistent with market participants perceiving staggered boards to be value reducing. Amihud and Stoyanov (2016) (AS2016) contests these findings, reporting some specifications ...

    • Staggered Boards and Shareholder Value: A Reply to Amihud and Stoyanov 

      Cohen, Alma; Wang, Changyi Chang-Yi (2016-03-03)
      In a paper published in the JFE in 2013, we provided evidence that market participants perceive staggered boards to be on average value-reducing. In a recent response paper, Amihud and Stoyanov (2015) “contest” our results. ...