10. Only two other provisions-Antigreenmail and Golden Parachutes-seem at all ambiguous. Since both are positively correlated with the vast majority of other firm- level provisions and can logically be viewed as takeover defenses, we code them like other defenses and add one point to the index for each. See their respective entries in Appendix 1 for a discussion.
11. Firms usually have the option to opt out of state law coverage. Also, a few state laws require firms to opt in to be covered. The firms that exercise these options are listed in the IRRC data. When we constructed the State subindex, we ignored these options and used the default state coverage. When we constructed the G index, we included the options and used actual coverage.