haku: @author Franks, J. / yhteensä: 11
viite: 6 / 11
| Tekijä: | Franks, J. Mayer, C. |
| Otsikko: | Bank control, takeovers and corporate governance in Germany |
| Lehti: | Journal of Banking and Finance
1998 : OCT, VOL. 22:10-11, p. 1385-1403 |
| Asiasana: | Banks Corporate governance Mergers History Germany |
| Vapaa asiasana: | Bank control |
| Kieli: | eng |
| Tiivistelmä: | The paper examines the three cases of hostile take-overs in Germany in the post 2nd World War period. The important role played by banks in affecting the outcome of the bids - bank representatives were chairmen of the supervisory board in all three cases and banks voted a large number of proxies in important decisions affecting the bids - is described. It is reported that low returns were earned by shareholders of two of the target firms and an explanation is offered in terms of bank control and the regulatory regime operating in Germany. |
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