haku: @author Walsh, J. P. / yhteensä: 11
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| Tekijä: | Seward, J. K. Walsh, J. P. |
| Otsikko: | The governance and control of voluntary corporate spinoffs (Unternehmenskontrolle) |
| Lehti: | Strategic Management Journal
1996 : JAN, VOL. 17:1, p. 25-39 |
| Asiasana: | |
| Vapaa asiasana: | REORGANISATION |
| Kieli: | eng |
| Tiivistelmä: | The authors investigate the role that a voluntary corporate restructuring can play in the design of efficient internal corporate mechanisms. They examined the post-restructuring internal control practices in 78 voluntary corporate spinoffs between 1972 and 1987. They found that new CEO's, their compensation contracts, and the staffing of the boards of directors in the spinoff firms can be seen as ex-ante efficient. The results indicate that equity reorganizations facilitate the implementation of efficient internal governance and control practices. Other factors influence the share price reactions to the announcement of such voluntary corporate restructurings. |
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