Save the Buyback, Save Jobs

• DOI: http://doi.org/10.1111/jacf.12334
• Author: Greg Milano,Michael Chew
• Published date: 01 March 2019
• Date: 01 March 2019

IN THIS ISSUE:

Agency

Capitalism

8The Rise of Agency Capitalism and the Role of Shareholder

Activists in Making It Work

Ronald J. Gilson, Columbia and Stanford Law Schools, and

Jeffrey N. Gordon, Columbia Law School

23 e Eect of Shareholder Approval of Equity Issuances

Around the World

Clifford G. Holderness, Boston College

42 Does Mandatory Shareholder Voting Prevent Bad Acquisitions?

e Case of the United Kingdom

Marco Becht, Université libre de Bruxelles, CEPR, and ECGI; Andrea Polo, Luiss University,

Universitat Pompeu Fabra, EIEF, Barcelona GSE, CEPR and ECGI; and Stefano Rossi, Bocconi

University, CEPR, and ECGI

62 e Early Returns to International Hedge Fund Activism: 2000-2010

Marco Becht, Université libre de Bruxelles, CEPR, and ECG; Julian Franks, London Business

School, CEPR, and ECGI; Jeremy Grant, Berenberg Bank; and Hannes Wagner, Bocconi University,

ECGI, and IGIER

81 How Has Takeover Competition Changed Over Time?

Tingting Liu, Iowa State University, and Harold Mulherin, University of Georgia

95 Do Large Blockholders Reduce Risk?

David Newton and Imants Paeglis, Concordia University

113 Estimating the Equity Risk Premium and Expected Equity Rates

of Return: e Case of Canada

Laurence Booth, University of Toronto

126 Save the Buyback, Save Jobs

Greg Milano and Michael Chew, Fortuna Advisors

VOLUME 31

NUMBER 1

WINTER 2019

APPLIED

CORPORATE FINANCE

Journal of