Managerial Efficiency And Share Ownership: The Market Reaction To Takeover Defenses
نویسندگان
چکیده
منابع مشابه
Impact of Takeover Defenses on Managerial
The article studies how takeover defenses influence managerial incentives with respect to long term investments, excess liquidity and the amount of debt relative to equity. The article conducts a cross-sectional regression based on a sample of Danish listed firms, dealing explicitly with the problem of causation between the variables. Takeover defenses adopted by Danish firms mainly consist of ...
متن کاملMarket efficiency, managerial compensation, and real efficiency
Article history: Received 10 October 2012 Received in revised form 14 October 2013 Accepted 23 March 2014 Available online 12 April 2014 We examine how an exogenous improvement in market efficiency, which allows the stock market to obtain more precise information about the firm's intrinsic value, affects the shareholder–manager contracting problem, managerial incentives, and shareholder value. ...
متن کاملA Perspective on Promoter Ownership and Market Reaction to Corporate News: Evidence from India
C orporate governance structures in the wake of observed differences in firm ownership structures in developed markets and emerging market economies are distinct. In this paper, we examine the effect of an ownership structure of firms on the market reaction to corporate news flows in the context of emerging market economies like India. We observe the price and volume movements associ...
متن کاملTakeover vulnerability and the credibility of signaling: The case of open-market share repurchases
There is debate in the literature focuses on whether open market repurchases can be taken as a signal of stock undervaluation. This research argues that takeover pressures before a repurchase announcement can be a credible signal of undervaluation. The empirical results indicate that repurchasing firms with a higher probability of takeover experience greater announcement effects, improvements i...
متن کاملVery Preliminary Ownership, Efficiency and The Market Value of Hospitals
Do nonprofit hospitals sell at a discount compared to for-profit hospitals? This question stems from public concerns about the underpricing of nonprofits, and raises important questions about the nature of nonprofit firms, their objectives, and their managerial efficiency. We address this question using a database of hospital sales prices and find that, contrary to the prevailing wisdom, nonpro...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Applied Business Research (JABR)
سال: 2011
ISSN: 2157-8834,0892-7626
DOI: 10.19030/jabr.v11i4.5847