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| Tekijä: | Choi, Y. Merville, L. |
| Otsikko: | A unified model of corporate acquisitions and divestitures: an incentive perspective |
| Lehti: | Review of Quantitative Finance and Accounting
1998 : MAR, VOL. 10:2, p. 127-154 |
| Asiasana: | FINANCE ACCOUNTING MERGERS |
| Kieli: | eng |
| Tiivistelmä: | The purpose of this paper is to unify corporate acquisitions and divestitures into a simple but comprehensive agency model where risk and managerial incentives interact to determine an optimal corporate governance and an incentive compensation scheme. Emphasizing human and non-human aspect of corporate assets, the model not only explains existing empirical evidence regarding contractual and organizational changes, but also suggests new perspective regarding firms' behavior around corporate acquisitions and divestitures. |
SCIMA