Publications of Mike Burkart

We develop an incomplete contract model to analyze the enlargement strategy of a club. An applicant is characterized by his wealth and the degree of...

This paper studies block trades and tender offers as alternative means for transferring corporate control in firms with a dominant minority...

This paper provides an economist's guide to the regulation of public tender offers. It argues that the common interpretation of takeovers as solely...

The combination of post-takeover moral hazard by the bidder and free-riding by the target shareholders leads the former to acquire in a tender offer...

This paper argues that the ownership structure of a firm acts as a commitment device to delegate a certain degree of authority from the shareholders...

Within the context of takeovers this paper shows that in private auctions the optimal individually rational strategy for a bidder with partial...