Takeovers, Restructuring, and the Market for Corporate Control

Name: Takeovers, Restructuring, and the Market for Corporate Control
Brand: VDM Verlag Dr. Müller
SKU: 9783639113358
Price: 28074 HUF
Availability: InStock

Ownership Structure: Does it Matter?

Szerző: Han Donker

Nyelv:

Kötés: Puha kötésű

Kiadó: VDM Verlag Dr. Müller

Elérhetőség: Kiadói készleten rendelésre

Küldés 17-27 napon belül

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Ownership structure: Does it matter in takeovers?§That has been the central focus of this book. This...

Információk a könyvről

Szerző

Han Donker

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

2009

oldal

244

EAN

9783639113358

Enbook ID

06820219

Kiadó

VDM Verlag Dr. Müller

Méretek

151 x 220 x 19

Teljes leírás

Ownership structure: Does it matter in takeovers?§That has been the central focus of this book. This§study investigates the effects of the ownership§structure of target firms on the returns to§shareholders of bidding and target firms in corporate§takeovers. §Grossman and Hart introduced the free-rider problem§in takeovers and showed that atomistic target§shareholders will take all the post-takeover§value-improvements of the bidder when the bidder§cannot dilute minority shareholders of the target§firm. Bagnoli and Lipman, and Shleifer and Vishny§argued that if target shareholders are pivotal§respectively have toeholds, the bidder can overcome§the free-rider problem.§We describe the microeconomic structure of the§takeover market and analyze the supply and demand§factors. The supply side of the takeover market is§determined by target shareholdings. The demand side§is determined by the initial shareholdings of the§bidder and competition between bidders. In our§empirical study, we find empirical evidence for the§relationship between the degree of ownership§concentration in target firms and the returns to§shareholders of bidding and target firms.

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Takeovers, Restructuring, and the Market for Corporate Control

Ownership Structure: Does it Matter?

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