search query: @author Hirschleifer, D. / total: 2
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| Author: | Hirschleifer, D. Thakor, A. |
| Title: | Corporate control through board dismissals and takeovers |
| Journal: | Journal of Economics and Management Strategy
1998 : WINTER, VOL. 7:4, p. 489-520 |
| Index terms: | COMPANY CONTROL ECONOMICS MERGERS |
| Language: | eng |
| Abstract: | This paper examines some policy issues related to the interaction between internal and external corporate control mechanisms - board dismissals and takeovers - by focusing on the information aggregation and other effects related to this interaction. The authors model the functioning of corporate control mechanisms as an example of a multilayered principal-agent relationship in which shareholders delegate the task of monitoring management quality to the board and rely on the external takeover market to provide additional disciplining of the manager as well as of the board. |
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