| Author: | Wright, P. Ferris, S. P. |
| Title: | Agency conflict and corporate strategy. The effect of divestment on corporate value (Politikologie) |
| Journal: | Strategic Management Journal
1997 : JAN, VOL. 18:1, p. 77-83 |
| Index terms: | |
| Freeterms: | UNTERNEHMENSSTRATEGIE, SPITZENFÜHRUNGSKRAFT, DESINVESTITION, UNTERNEHMERENTSCHEIDUNG, SÜDAFRIKA |
| Language: | eng |
| Abstract: | Among the various stakeholders of a firm , senior managers are the most likely targets for private and public political pressures. In some situations, consequently, senior executives may adopt corporate strategies in response to political pressures even if these strategies may be costly to shareholders. In this study, a special case is examined: the effect of divestment of South African business units on firm value. The results support the premise that non-economic pressures may influence managerial strategies rather than value enhancement goals. |
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