Board Structure, Mergers and Shareholder Wealth: A Study of the Mutual Fund Industry
We study mutual fund mergers between 1999 and 2001 to understand the role and effectiveness of fund boards. Some fund mergers—typically across-family mergers—benefit target shareholders but are costly to target fund directors. Such mergers are more likely when funds underperform and their boards hav...
| Main Authors: | , , |
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| Format: | Journal article |
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2007
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