Someone said that there used to be, in our profession, a theory and empirics that argue that 1) the threat of hostile takeover, and 2) more powerful influence of mid-to-small-sized stock owners (someone might put it 'US-type' corporations) increase the firm value in short or long term.
But he added that idea has died.
But because he didn't mention the name of that type of idea, I can't find related papers in Google Scholar!!
Do you know this idea?
And was it really popular among economists at some point in time?
And has this idea really died?