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| Author: | Instefjord, N. |
| Title: | The market for corporate control and the agency paradigm |
| Journal: | European Finance Review
1999 : VOL. 3:1, p. 1-22 |
| Index terms: | Mergers Financial control Company control Agency theory Organizational paradigms |
| Language: | eng |
| Abstract: | The article deals with the role of agency driven takeover activity. The analysis shows that takerover can play an important role in reducing agency costs even though the gains from the corporate restructuring that follows the takeovers are zero, which counters existing models of agency driven takeover activity. The model can therefore form the basis for driven empirical predictions which discriminate between the agency paradigm" and the "corporate restructuring paradigm" of takeover activity. |
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