haku: @indexterm board of directors / yhteensä: 520
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| Tekijä: | Davidson, K. M. |
| Otsikko: | Another look at LBOs. |
| Lehti: | Journal of Business Strategy
1988 : JAN-FEB, VOL. 9:1, p. 44-47 |
| Asiasana: | MANAGEMENT BUY-OUTS BOARD OF DIRECTORS SHAREHOLDERS |
| Kieli: | eng |
| Tiivistelmä: | There is too much evidence of merger mistakes during the acquisition sprees of the past two decades. Boards should not protect incompetent managers by taking steps such as adopting dual voting rights or nonvoting common stock. Measures such as taking a company private insulate management performance from accountability, which is more likely to contribute to the poor management that has made many breakup takeover beneficial. Boards must protect their shareholders from undervalued bids. They must also prevent their companies from becoming vulnerable or making aimless acquisitions, in part, by adopting appropriate antitakeover measures. Although those measures should protect the business, they do not necessarily protect its managers. |
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