haku: @author Poulsen, A. B. / yhteensä: 6
viite: 5 / 6
| Tekijä: | Jarell, G. A. Poulsen, A. B. |
| Otsikko: | Shark repellents and stock prices: The effects of antitakeover amendments since 1980 |
| Lehti: | Journal of Financial Economics
1987 : SEP, VOL. 19:1, 127-168 |
| Asiasana: | OPTIONS PRICES |
| Kieli: | eng |
| Tiivistelmä: | Antitakeover amendments restrict the transfer of corporate control.On average, the public announcement of antitakeover amendments by 600 firms in the period 1979-1985 has an insignificant effect on the value of announcing firms' shares. However, different types of amendments have varying effects. Non-far-price amendments have an average significant negative effect of 2.95% on share prices, while fair-price amendments have insignificant effect. The more harmful amendments have larger insider holdings and lower institutional holdings, suggesting a partial explanation of why shareholders approve these amendments. |
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