Who Disciplines Management in Poorly Performing Companies?
Economic theory points to five parties active in disciplining management of poorly performing firms: holders of large share blocks, acquirers of new blocks, bidders in take-overs, non-executive directors, and investors during periods of financial distress. This Paper reports the first comparative ev...
| Hauptverfasser: | , , |
|---|---|
| Format: | Working paper |
| Sprache: | English |
| Veröffentlicht: |
CEPR
2001
|