Abstract: In recent work, we presented evidence indicating that staggered boards have adverse effects on target shareholders. John Wilcox, the Vice-Chair of Georgeson recently published a critique of our work, urging shareholders to support staggered boards. In this paper we respond to Wilcox’s critique and explain why it does not weaken in any way our analysis of staggered boards.
The John M. Olin Center for Law, Economics, and Business
Harvard Law School
The John M. Olin Center for Law, Economics, and Business
Harvard Law School