@unpublished{publication-4879,
	author={Bodnaruk, Andriy and Gao, Pengjie and {\"O}stberg, Per Nils Anders and Yun, Hayong},
	institution={University of Zurich},
	number=699,
	series={NCCR Finrisk working paper 699, Swiss Finance Institute Research Paper No. 10-56},
	title={Passive Shareholders as a Takeover Defense},
	year=2011,
}