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| Tekijä: | Sundaramurthy, C. Mahoney, J. M. Mahoney, J. T. |
| Otsikko: | Board structure, anti-takeover provisions, and stockholder wealth (Geschäftsübernahme; Unternehmenskontrolle; Board of Directors) |
| Lehti: | Strategic Management Journal
1997 : MAR, VOL. 18:3, p. 231-245 |
| Asiasana: | |
| Vapaa asiasana: | UNTERNEHMENSSTRATEGIE |
| Kieli: | eng |
| Tiivistelmä: | This paper's regression analyses from a sample of 261 firms that adopted 486 anti-takeover provisions in the 1984-1988 period indicate that the negative market reactions to antitakeover provisions vary depending on firms' board structures. This empirical evidence indicates that while separating the positions of CEO and chairperson of the board reduces the negative effect, and increased outsider representation increases negative market reactions. |
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