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| Tekijä: | Capron, L. Guillen, M. |
| Otsikko: | National corporate governance institutions and post-acquisition target |
| Lehti: | Strategic Management Journal
2009 : AUG, VOL. 30:8 p. 803-833 |
| Asiasana: | corporate governance shareholders consolidation management science human resource management organizational structure |
| Kieli: | eng |
| Tiivistelmä: | This study examines the characteristics of national systems of corporate governance to theorize about the nature of the shareholders' and employees' interests when it comes to reorganization, assuming that the firm is coalitional in nature. A cross-national dataset of corporate acquisitions and post-acquisition reorganization is used. Results support that stronger legal protection of shareholder rights in the acquirer country compared to the target country increases the acquirer's ability to restructure the target's assets and leverage the target's resources. The protection of employee rights in the target country, then, restricts the acquirer's ability to restructure the target's assets and redeploy resources to and from the target. |
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