The effects of takeover threats of shareholders and firm value

Research, Preprint English OPEN
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
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