Elite Mobilization for Antitakeover Legislation, 1982-1990
نویسندگان
چکیده
منابع مشابه
Mobilizations for Antitakeover Legislation , 1982 – 1990
Elite mobilizations play a key role in shaping the contours of social institutions. Prior research has demonstrated that mobilizations and the resulting struggles between competing elites shape the social structure of markets (Fligstein 1996), corporate governance regimes (Davis and Thompson 1994), and organizations (Fligstein 1990; Zald and Berger 1978). More recent examples in the popular pre...
متن کاملVenture Capital Investments and Merger and Acquisition Activity Around the World
We examine the relation between venture capital (VC) investments and mergers and acquisitions (M&A) activity around the world. We find evidence of a strong positive association between VC investments and lagged M&A activity, consistent with the hypothesis that an active M&A market provides viable exit opportunities for VC companies and therefore incentivizes them to engage in more deals. We als...
متن کاملConcentrating on Governance
This paper examines a novel aspect of the governance-value relationship. We show theoretically that the valuation e¤ect of antitakeover provisions varies with the degree of industry concentration. We test the unique cross-sectional predictions of our theory: (1) antitakeover provisions should lead to higher takeover premiums, but only in concentrated industries; and (2) antitakeover provisions ...
متن کاملIs there discretion in wage setting? a test using takeover legislation
Anecdotal evidence suggests that uncontrolled managers let wages rise above competitive levels. To test this belief, we examine the wage impact of antitakeover legislation passed throughout the 1980s in many states. Since many view hostile takeovers as an important disciplining device, these laws, by reducing takeover threats, potentially raised managerial discretion. If uncontrolled managers p...
متن کاملThe small world of the American corporate elite, 1982–2001
This paper examines the degree of stability in the structure of the corporate elite network in the US during the 1980s and 1990s. Several studies have documented that board-toboard ties serve as a mechanism for the diffusion of corporate practices, strategies, and structures; thus, the overall structure of the network can shape the nature and rate of aggregate corporate change. But upheavals in...
متن کامل