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| Author: | Hancock, G. B. Mougone, M. |
| Title: | The impact of financial factors on proxy contest outcomes |
| Journal: | Journal of Business Finance and Accounting
1991 : JUN, VOL. 18:4, p. 541-551 |
| Index terms: | FINANCIAL ANALYSIS PRICES EARNINGS PER SHARE DIVIDENDS MANAGEMENT |
| Language: | eng |
| Abstract: | Logic analysis is used to empirically examine the relationship between selected financial factors and the likelihood of dissidents' success in proxy contests. The results indicate that the price-earnings ratio, the dividend payout ratio, earnings per share and return on equity are statistically and significantly related to the probability of dissident success in a proxy contest for control. Further testing indicates that the probability of dissident success in a proxy fight can significantly impact the post-contest dividend payout and price/earnings ratios. These findings are consistent with the popular literature on proxy contests. |
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