Activists, raiders, and directors: opportunism and the balance of corporate power
We model corporate governance in a world with competitive securities markets as well as markets for corporate assets. We show that varying the liquidity and opacity of corporate assets, the vitality of the market for corporate control, and the costs of enforcing shareholder rights to cash flows lea...
| Main Authors: | , , |
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| Format: | Working paper |
| Published: |
University of Oxford
2008
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