메뉴 건너뛰기




Volumn 2, Issue 1, 1998, Pages 17-35

Internal versus external control: An analysis of board composition and ownership in UK takeovers

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0004953650     PISSN: 13853457     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1009903426321     Document Type: Article
Times cited : (16)

References (43)
  • 1
    • 84971947837 scopus 로고
    • Large Shareholders and the Monitoring of Managers: The Case of Antitakeover Charter Amendments
    • Agrawal, A. & Mandelker, G. (1990). Large Shareholders and the Monitoring of Managers: The Case of Antitakeover Charter Amendments. Journal of Financial and Quantitative Analysis 25: 143-161.
    • (1990) Journal of Financial and Quantitative Analysis , vol.25 , pp. 143-161
    • Agrawal, A.1    Mandelker, G.2
  • 2
    • 84891458025 scopus 로고
    • The Role of Asset Structure, Ownership Structure, and Takeover Defenses in Determining Acquisition Likelihood
    • Ambrose, B. & Megginson, W. L. (1992). The Role of Asset Structure, Ownership Structure, and Takeover Defenses in Determining Acquisition Likelihood. Journal of Financial and Quantitative Analysis 27: 575-589.
    • (1992) Journal of Financial and Quantitative Analysis , vol.27 , pp. 575-589
    • Ambrose, B.1    Megginson, W.L.2
  • 3
    • 84982646947 scopus 로고
    • Takeover Markets and Corporate Board Composition: Some Further Evidence
    • Arthur, N. & Taylor, S. (1995). Takeover Markets and Corporate Board Composition: Some Further Evidence. Corporate Governance - An International Review 3: 218-229.
    • (1995) Corporate Governance - An International Review , vol.3 , pp. 218-229
    • Arthur, N.1    Taylor, S.2
  • 4
    • 0001640123 scopus 로고
    • Tender Offers and Management Resistance
    • Baron, D. P. (1983). Tender Offers and Management Resistance. Journal of Finance 38: 331-342.
    • (1983) Journal of Finance , vol.38 , pp. 331-342
    • Baron, D.P.1
  • 5
    • 77958406983 scopus 로고
    • Corporate Governance and The Board of Directors: Performance Effects of Changes in Board Composition
    • Baysinger, B. D. & Butler, H. N. (1985). Corporate Governance and The Board of Directors: Performance Effects of Changes in Board Composition. Journal of Law, Economics and Organisation 1: 101-124.
    • (1985) Journal of Law, Economics and Organisation , vol.1 , pp. 101-124
    • Baysinger, B.D.1    Butler, H.N.2
  • 6
    • 0001990250 scopus 로고
    • The Composition of Board of Directors and Strategic Control: Effects on Corporate Strategy
    • Baysinger, B. D. & Hoskisson, R. E. (1990). The Composition of Board of Directors and Strategic Control: Effects on Corporate Strategy. Academy of Management Review 15: 72-87.
    • (1990) Academy of Management Review , vol.15 , pp. 72-87
    • Baysinger, B.D.1    Hoskisson, R.E.2
  • 8
    • 84928461760 scopus 로고
    • The Takeover Market, Corporate Board Composition and Ownership Structure: The Case of Banking
    • Brickley, J. & James, C. (1987). The Takeover Market, Corporate Board Composition and Ownership Structure: The Case of Banking. Journal of Law and Economics 30: 161-180.
    • (1987) Journal of Law and Economics , vol.30 , pp. 161-180
    • Brickley, J.1    James, C.2
  • 11
    • 0002405425 scopus 로고
    • How Managerial Wealth Affects the Tender Offer Process
    • Cotter, J. F. & Zenner, M. (1994). How Managerial Wealth Affects the Tender Offer Process. Journal of Financial Economics 35: 63-97.
    • (1994) Journal of Financial Economics , vol.35 , pp. 63-97
    • Cotter, J.F.1    Zenner, M.2
  • 12
    • 0031066545 scopus 로고    scopus 로고
    • Do Independent Directors Enhance Target Shareholder Wealth During Tender Offers
    • Cotter, J. F., Shivdasani, A. & Zenner, M. (1997). Do Independent Directors Enhance Target Shareholder Wealth During Tender Offers. Journal of Financial Economics 43: 195-218.
    • (1997) Journal of Financial Economics , vol.43 , pp. 195-218
    • Cotter, J.F.1    Shivdasani, A.2    Zenner, M.3
  • 13
    • 0001763518 scopus 로고
    • The Structure of Ownership and Theory of the Firm
    • Demsetz, H. (1983). The Structure of Ownership and Theory of the Firm. Journal of Law and Economics 26: 375-390.
    • (1983) Journal of Law and Economics , vol.26 , pp. 375-390
    • Demsetz, H.1
  • 14
    • 84935941592 scopus 로고
    • The Structure of Corporate Ownership: Causes and Consequences
    • Demsetz, H. & Lehn, K. (1985). The Structure of Corporate Ownership: Causes and Consequences. Journal of Political Economy 93: 1155-1177.
    • (1985) Journal of Political Economy , vol.93 , pp. 1155-1177
    • Demsetz, H.1    Lehn, K.2
  • 15
    • 0000240982 scopus 로고
    • Institutional Investors, Antitakeover Defenses and Success of Hostile Takeover Bids
    • Duggal, R. & Millar, J. A. (1994). Institutional Investors, Antitakeover Defenses and Success of Hostile Takeover Bids. Quarterly Review of Economics and Finance 34: 387-402.
    • (1994) Quarterly Review of Economics and Finance , vol.34 , pp. 387-402
    • Duggal, R.1    Millar, J.A.2
  • 16
    • 0002886905 scopus 로고
    • Takeover Bids, the Free Rider Problem and the Theory of the Firm
    • Grossman, S. J. & Hart, O. D. (1980). Takeover Bids, the Free Rider Problem and the Theory of the Firm. Bell Journal of Economics 11: 42-64.
    • (1980) Bell Journal of Economics , vol.11 , pp. 42-64
    • Grossman, S.J.1    Hart, O.D.2
  • 17
    • 0000633779 scopus 로고
    • Corporate Governance: Some Theory and Implications
    • Hart, O. D. (1995). Corporate Governance: Some Theory and Implications. Economic Journal 105: 678-689.
    • (1995) Economic Journal , vol.105 , pp. 678-689
    • Hart, O.D.1
  • 18
    • 84989095308 scopus 로고
    • External Control, Corporate Strategy, and Firm Performance in Research Intensive Industries
    • Hill, C. & Snell, S. (1988). External Control, Corporate Strategy, and Firm Performance in Research Intensive Industries. Strategic Management Journal 9: 577-590.
    • (1988) Strategic Management Journal , vol.9 , pp. 577-590
    • Hill, C.1    Snell, S.2
  • 19
    • 0041566409 scopus 로고
    • The Assessment: Corporate Governance and Corporate Control
    • Jenkinson, T. & Meyer, C. (1992). The Assessment: Corporate Governance and Corporate Control. Oxford Review of Economic Policy 8(3): 1-10.
    • (1992) Oxford Review of Economic Policy , vol.8 , Issue.3 , pp. 1-10
    • Jenkinson, T.1    Meyer, C.2
  • 20
    • 0002719266 scopus 로고
    • The Takeover Controversy: Analysis and Evidence
    • Jensen, M. (1986). The Takeover Controversy: Analysis and Evidence. Midland Corporate Finance Journal 4: 6-42.
    • (1986) Midland Corporate Finance Journal , vol.4 , pp. 6-42
    • Jensen, M.1
  • 21
    • 84993848601 scopus 로고
    • The Modern Industrial Revolution, Exit, and The Failure of Internal Control Systems
    • Jensen, M. (1993). The Modern Industrial Revolution, Exit, and The Failure of Internal Control Systems. Journal of Finance 48: 831-880.
    • (1993) Journal of Finance , vol.48 , pp. 831-880
    • Jensen, M.1
  • 22
    • 44649197264 scopus 로고
    • Theory of The Firm:Managerial Behaviour, Agency Costs and Ownership Structure
    • Jensen, M. C. & Meckling, W. H. (1976). Theory of The Firm:Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial Economics 3: 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 23
    • 0012615583 scopus 로고    scopus 로고
    • Takeover Defenses, Ownership Structure and Stock Returns in the Netherlands: An Empirical Analysis
    • Kabir, R., Cantrijn, D. & Jeunink, A. (1997). Takeover Defenses, Ownership Structure and Stock Returns in the Netherlands: An Empirical Analysis. Strategic Management Journal 18: 97-109.
    • (1997) Strategic Management Journal , vol.18 , pp. 97-109
    • Kabir, R.1    Cantrijn, D.2    Jeunink, A.3
  • 24
    • 0004959536 scopus 로고    scopus 로고
    • Takeover Activity, CEO Turnover, and the Market for Corporate Control
    • Kennedy, V. A. & Limmack, R. J. (1996). Takeover Activity, CEO Turnover, and the Market for Corporate Control. Journal of Business Finance and Accounting 23: 267-285.
    • (1996) Journal of Business Finance and Accounting , vol.23 , pp. 267-285
    • Kennedy, V.A.1    Limmack, R.J.2
  • 25
    • 0000396860 scopus 로고
    • Ownership Structure, Control Type Classifications and the Performance of Large British Companies
    • Leech, D. & Leahy, J. (1991). Ownership Structure, Control Type Classifications and the Performance of Large British Companies. Economic Journal 101: 1418-1437.
    • (1991) Economic Journal , vol.101 , pp. 1418-1437
    • Leech, D.1    Leahy, J.2
  • 26
    • 0000297803 scopus 로고
    • Mergers and the Market for Corporate Control
    • Manne, H. G. (1965). Mergers and the Market for Corporate Control. Journal of Political Economy 73: 110-120.
    • (1965) Journal of Political Economy , vol.73 , pp. 110-120
    • Manne, H.G.1
  • 27
    • 84977707515 scopus 로고
    • Corporate Performance, Corporate Takeovers, and Management Turnover
    • Martin, K. J. & McConnell, J. J. (1991). Corporate Performance, Corporate Takeovers, and Management Turnover. Journal of Finance 46: 671-687.
    • (1991) Journal of Finance , vol.46 , pp. 671-687
    • Martin, K.J.1    McConnell, J.J.2
  • 28
  • 29
    • 0003303182 scopus 로고
    • Characteristics of Targets of Hostile and Friendly Takeovers
    • In Auerbach, A. J. (ed.), Chicago, IL: University of Chicago Press
    • Morck, R., Shleifer, A. & Vishny, R. (1988). Characteristics of Targets of Hostile and Friendly Takeovers. In Auerbach, A. J. (ed.) Corporate Takeovers: Causes and Consequences. Chicago, IL: University of Chicago Press.
    • (1988) Corporate Takeovers: Causes and Consequences
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 31
    • 0013590421 scopus 로고
    • Proxy Contests and The Efficiency of Shareholder Oversight
    • Pound, J. (1988). Proxy Contests and The Efficiency of Shareholder Oversight. Journal of Financial Economics 20: 237-265.
    • (1988) Journal of Financial Economics , vol.20 , pp. 237-265
    • Pound, J.1
  • 32
    • 0025138083 scopus 로고
    • The Staying Power of the Public Corporation
    • Rappaport, A. (1990). The Staying Power of the Public Corporation. Harvard Business Review 1: 96-104.
    • (1990) Harvard Business Review , vol.1 , pp. 96-104
    • Rappaport, A.1
  • 33
    • 0001475438 scopus 로고
    • Board Composition, Ownership Structure and Hostile Takeovers
    • Shivdasani, A. (1993). Board Composition, Ownership Structure and Hostile Takeovers. Journal of Accounting and Economics 16: 167-198.
    • (1993) Journal of Accounting and Economics , vol.16 , pp. 167-198
    • Shivdasani, A.1
  • 34
  • 36
    • 0001026456 scopus 로고    scopus 로고
    • A Survey of Corporate Governance
    • Schliefer, A. & Vishny, R. (1997). A Survey of Corporate Governance. Journal of Finance 52: 737-783.
    • (1997) Journal of Finance , vol.52 , pp. 737-783
    • Schliefer, A.1    Vishny, R.2
  • 37
    • 84972065982 scopus 로고
    • The Impact of Managerial Ownership on Acquisition Attempts and Target Shareholder Wealth
    • Song, M. H. & Walkling, R. (1993). The Impact of Managerial Ownership on Acquisition Attempts and Target Shareholder Wealth. Journal of Financial and Quantitative Analysis 28: 439-457.
    • (1993) Journal of Financial and Quantitative Analysis , vol.28 , pp. 439-457
    • Song, M.H.1    Walkling, R.2
  • 39
    • 84934564015 scopus 로고
    • Takeover Threats and Managerial Myopia
    • Stein, J. C. (1988). Takeover Threats and Managerial Myopia. Journal of Political Economy 96: 61-80.
    • (1988) Journal of Political Economy , vol.96 , pp. 61-80
    • Stein, J.C.1
  • 40
    • 45549112378 scopus 로고
    • Managerial Control of Voting Rights, Financing Policies and The Market For Corporate Control
    • Stulz, R. M. (1988). Managerial Control of Voting Rights, Financing Policies and The Market For Corporate Control. Journal of Financial Economics 20: 2554.
    • (1988) Journal of Financial Economics , vol.20 , pp. 2554
    • Stulz, R.M.1
  • 41
    • 84982615353 scopus 로고
    • The Role of Defensive Strategies and Ownership Structure of Target Firms: Evidence from UK Hostile Takeover Bids
    • Sudarsanam, P. S. (1995). The Role of Defensive Strategies and Ownership Structure of Target Firms: Evidence from UK Hostile Takeover Bids. European Financial Management 1: 223-240.
    • (1995) European Financial Management , vol.1 , pp. 223-240
    • Sudarsanam, P.S.1
  • 42
    • 84989026655 scopus 로고
    • Mergers, Acquisitions, and the Pruning of Managerial Deadwood
    • Walsh, J. P. & Ellwood, J. W. (1991). Mergers, Acquisitions, and the Pruning of Managerial Deadwood. Strategic Management Journal 12: 201-217.
    • (1991) Strategic Management Journal , vol.12 , pp. 201-217
    • Walsh, J.P.1    Ellwood, J.W.2
  • 43


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.