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| Author: | Denis, D. J. Kruse, T. A. |
| Title: | Managerial discipline and corporate restructuring following performance declines |
| Journal: | Journal of Financial Economics
2000 : MAR, VOL. 55:3, p. 391-424 |
| Index terms: | Management Mergers Corporate restructuring |
| Language: | eng |
| Abstract: | In this paper, examined is the incidence of disciplinary events reducing the control of current managers, and corporate restructuring among firms experiencing a large decline in operating performance during an active takeover period (1985-1988) and a less active period (1989-1992). It is concluded that, although some managerial disciplinary events are related to overall takeover activity, the decline in takeover activity does not result in fewer performance-enhancing restructurings following performance declines. |
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