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| Author: | Useem, M. Gager, C. |
| Title: | Employee shareholders or institutional investors? When corporate managers replace their stockholders (Geschäftsübernahme) |
| Journal: | Journal of Management Studies
1996 : SEP, VOL. 33:5, p. 613-631 |
| Index terms: | |
| Freeterms: | MITEIGENTUM, INVESTMENTGESELLSCHAFTEN, UNTERNEHMENSPOLITIK |
| Language: | eng |
| Abstract: | During the past decade, the shares of publicly traded companies moved increasingly into the hands of institutional investors. As these investors pressed companies to restructure, companies in turn restructured their shareholder base. Drawing on a 1989 survey of USA publicly traded companies, firms facing a hostile takeover or with large institutional holdings are seeking greater employee stockholding. Firms that had adopted defences when threatened with takeovers or short-term pressures, seek more employee and less institutional stockholding. |
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