The effects of takeover threats of shareholders and firm value
Haan, Marco; Riyanto, Yohanes;
- Publisher: s.n.
We study the role of takeover threats as a corporate control mechanism using Aghion and Tirole's (1997) model of formal and real authority. Shareholders do not monitor the manager's actions, since ownership is widely dispersed. A corporate raider may monitor, and steps ... View more