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| Author: | Thompson, S. Wright, M. |
| Title: | Corporate governance: the role of restructuring transactions |
| Journal: | Economic Journal
1995 : MAY, VOL. 105:430, p. 690-703 |
| Index terms: | ROLES INNOVATION LABOUR MARKETS |
| Language: | eng |
| Abstract: | The purpose of this essay is to examine and evaluate the corporate restructuring transaction as an innovation in corporate governance, in particular to determine how far it remedies the perceived agency problems associated with management control. In the current debate on governance issues there is a widely articulated view that the Anglo-American style capital market, with its emphasis on liquidity and the separation of institutional shareholders from the firms they invest in, too often results in poor managerial accountability and substantial departures from shareholder value maximization. |
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