Who disciplines management in poorly performing companies?
Economic theory points to five parties disciplining management of poorly performing firms: holders of large share blocks, acquirers of new blocks, bidders in takeovers, non-executive directors, and investors during periods of financial distress. This paper reports the first comparative evaluation of...
| Auteurs principaux: | , , |
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| Format: | Working paper |
| Publié: |
University of Oxford
2001
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