메뉴 건너뛰기




Volumn 40, Issue 2, 1996, Pages 239-266

Active investors and management turnover following unsuccessful control contests

Author keywords

Active investors; Blockholders; Management turnover

Indexed keywords


EID: 0030075541     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/0304-405X(95)00846-7     Document Type: Article
Times cited : (128)

References (37)
  • 1
    • 84993918483 scopus 로고
    • Executive careers and compensation surrounding takeover bids
    • Agrawal, Anup and Ralph A. Walkling, 1994, Executive careers and compensation surrounding takeover bids, Journal of Finance 49, 985-1014.
    • (1994) Journal of Finance , vol.49 , pp. 985-1014
    • Agrawal, A.1    Walkling, R.A.2
  • 2
    • 0009952279 scopus 로고
    • Private benefits from control of public corporations
    • Barclay. Michael J. and Clifford G. Holderness, 1989, Private benefits from control of public corporations. Journal of Financial Economics 25, 371-396.
    • (1989) Journal of Financial Economics , vol.25 , pp. 371-396
    • Barclay, M.J.1    Holderness, C.G.2
  • 3
    • 84977730652 scopus 로고
    • Why hang on to losers? divestitures and takeovers
    • Boot, Arnoud W.A., 1992, Why hang on to losers? Divestitures and takeovers, Journal of Finance 47, 1401-1423.
    • (1992) Journal of Finance , vol.47 , pp. 1401-1423
    • Boot, A.W.A.1
  • 4
    • 0011453070 scopus 로고
    • The wealth effects of targeted repurchases
    • Bradley. Michael and Lee Wakeman, 1983, The wealth effects of targeted repurchases, Journal of Financial Economics 11, 301-328.
    • (1983) Journal of Financial Economics , vol.11 , pp. 301-328
    • Bradley, M.1    Wakeman, L.2
  • 5
    • 0000380080 scopus 로고
    • Poison or placebo? evidence on the deterrent and wealth effects of modern antitakeover measures
    • Comment, Robert and G. William Schwert, 1995, Poison or placebo? Evidence on the deterrent and wealth effects of modern antitakeover measures, Journal of Financial Economics 39, 3-43.
    • (1995) Journal of Financial Economics , vol.39 , pp. 3-43
    • Comment, R.1    Schwert, G.W.2
  • 6
    • 0002405425 scopus 로고
    • How managerial wealth affects the tender offer process
    • Cotter, James F. and Marc Zenner, 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
  • 7
    • 46549097378 scopus 로고
    • Executive compensation, management turnover, and firm performance: An empirical investigation
    • Coughlan, Anne and Ronald Schmidt, 1985, Executive compensation, management turnover, and firm performance: An empirical investigation, Journal of Accounting and Economics 7, 43-66.
    • (1985) Journal of Accounting and Economics , vol.7 , pp. 43-66
    • Coughlan, A.1    Schmidt, R.2
  • 8
    • 0011407437 scopus 로고
    • Standstill agreements, privately negotiated stock repurchases, and the market for corporate control
    • Dann, Larry Y. and Harry DeAngelo, 1983, Standstill agreements, privately negotiated stock repurchases, and the market for corporate control, Journal of Financial Economics 11, 275-300.
    • (1983) Journal of Financial Economics , vol.11 , pp. 275-300
    • Dann, L.Y.1    DeAngelo, H.2
  • 9
    • 0003014127 scopus 로고
    • Corporate financial policy and corporate control: A study of defensive adjustments in asset and ownership structure
    • Dann, Larry Y. and Harry DeAngelo, 1988, Corporate financial policy and corporate control: A study of defensive adjustments in asset and ownership structure, Journal of Financial Economics 20, 87-128.
    • (1988) Journal of Financial Economics , vol.20 , pp. 87-128
    • Dann, L.Y.1    DeAngelo, H.2
  • 10
    • 0002447529 scopus 로고
    • Proxy contests and the governance of publicly-held corporations
    • DeAngelo, Linda E. and Harry DeAngelo, 1989, Proxy contests and the governance of publicly-held corporations. Journal of Financial Economics 23, 29-60.
    • (1989) Journal of Financial Economics , vol.23 , pp. 29-60
    • DeAngelo, L.E.1    DeAngelo, H.2
  • 11
    • 84977700844 scopus 로고
    • Defensive adjustments in corporate payout policy: Share repurchases and special dividends
    • Denis, David J., 1990, Defensive adjustments in corporate payout policy: Share repurchases and special dividends, Journal of Finance 45, 1433-1456.
    • (1990) Journal of Finance , vol.45 , pp. 1433-1456
    • Denis, D.J.1
  • 12
    • 84993897491 scopus 로고
    • Performance changes following top management dismissals
    • Denis, David J. and Diane K. Denis, 1995, Performance changes following top management dismissals. Journal of Finance 50, 1029-1057.
    • (1995) Journal of Finance , vol.50 , pp. 1029-1057
    • Denis, D.J.1    Denis, D.K.2
  • 14
    • 0000806744 scopus 로고
    • Agency problems and the theory of the firm
    • Fama, Eugene, 1980, Agency problems and the theory of the firm, Journal of Political Economy 88, 288-307.
    • (1980) Journal of Political Economy , vol.88 , pp. 288-307
    • Fama, E.1
  • 15
    • 38249037100 scopus 로고
    • The wealth effects of company initiated management changes
    • Furtado, Eugene P. and Michael S. Rozeff, 1987, The wealth effects of company initiated management changes, Journal of Financial Economics 18, 147-160.
    • (1987) Journal of Financial Economics , vol.18 , pp. 147-160
    • Furtado, E.P.1    Rozeff, M.S.2
  • 17
    • 0000855326 scopus 로고
    • Managerial performance, boards of directors and takeover bidding
    • Hirshleifer. David and Anjan V. Thakor, 1994, Managerial performance, boards of directors and takeover bidding, Journal of Corporate Finance 1, 63-90.
    • (1994) Journal of Corporate Finance , vol.1 , pp. 63-90
    • Hirshleifer, D.1    Thakor, A.V.2
  • 18
    • 45949112827 scopus 로고
    • Shark repellants and stock prices: The effects of antitakeover amendments since 1980
    • Jarrrell, Gregg and Annette B. Poulsen, 1987, Shark repellants and stock prices: The effects of antitakeover amendments since 1980, Journal of Financial Economics 19, 127-168.
    • (1987) Journal of Financial Economics , vol.19 , pp. 127-168
    • Jarrrell, G.1    Poulsen, A.B.2
  • 19
    • 38249032813 scopus 로고
    • Dual-class recapitalizations as antitakeover mechanisms: The recent evidence
    • Jarrell, Gregg and Annette B. Poulsen, 1988, Dual-class recapitalizations as antitakeover mechanisms: The recent evidence, Journal of Financial Economics 20, 129-152.
    • (1988) Journal of Financial Economics , vol.20 , pp. 129-152
    • Jarrell, G.1    Poulsen, A.B.2
  • 20
    • 0002719266 scopus 로고
    • The takeover controversy: Analysis and evidence
    • Jensen, Michael C., 1986, The takeover controversy: Analysis and evidence, Midland Corporate Finance Journal 4, 6-32.
    • (1986) Midland Corporate Finance Journal , vol.4 , pp. 6-32
    • Jensen, M.C.1
  • 21
    • 0002119195 scopus 로고
    • Corporate control and the politics of finance
    • Jensen, Michael C., 1991, Corporate control and the politics of finance, Journal of Applied Corporate Finance 4, 13-33.
    • (1991) Journal of Applied Corporate Finance , vol.4 , pp. 13-33
    • Jensen, M.C.1
  • 22
    • 84993848601 scopus 로고
    • The modern industrial revolution, exit, and the failure of internal control systems
    • Jensen, Michael C., 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.C.1
  • 23
    • 0041013329 scopus 로고
    • The distribution of power among corporate managers, shareholders, and directors
    • Jensen, Michael C. and Jerold B. Warner, 1988, The distribution of power among corporate managers, shareholders, and directors, Journal of Financial Economics 20, 3-24.
    • (1988) Journal of Financial Economics , vol.20 , pp. 3-24
    • Jensen, M.C.1    Warner, J.B.2
  • 24
    • 0000971656 scopus 로고
    • Corporate takeovers, firm performance, and the board of directors
    • Kini, Omcsh, William Kracaw, and Shezad Mian, 1994, Corporate takeovers, firm performance, and the board of directors, Journal of Corporate Finance 1, 383-412.
    • (1994) Journal of Corporate Finance , vol.1 , pp. 383-412
    • Kini, O.1    Kracaw, W.2    Mian, S.3
  • 25
    • 38249030444 scopus 로고
    • Targeted share repurchases and top management changes
    • Klein, April and James Rosenfeld, 1988, Targeted share repurchases and top management changes, Journal of Financial Economics 20, 493-506.
    • (1988) Journal of Financial Economics , vol.20 , pp. 493-506
    • Klein, A.1    Rosenfeld, J.2
  • 26
    • 0000435597 scopus 로고
    • Golden parachutes, executive decision-making, and shareholder wealth
    • Lambert, Richard and David Larcker, 1985, Golden parachutes, executive decision-making, and shareholder wealth, Journal of Accounting and Economics 7, 179-204.
    • (1985) Journal of Accounting and Economics , vol.7 , pp. 179-204
    • Lambert, R.1    Larcker, D.2
  • 27
    • 84977707515 scopus 로고
    • Corporate performance, corporate takeovers, and management turnover
    • Martin, Kenneth J. and John J. McConnell, 1991, Corporate performance, corporate takeovers, and management turnover, Journal of Finance 46, 671-688.
    • (1991) Journal of Finance , vol.46 , pp. 671-688
    • Martin, K.J.1    McConnell, J.J.2
  • 28
    • 33748582079 scopus 로고
    • Poison pill securities: Stockholder wealth, profitability, and ownership structure
    • Malatesta, Paul H. and Ralph A. Walkling, 1988, Poison pill securities: Stockholder wealth, profitability, and ownership structure, Journal of Financial Economics 20, 347-376.
    • (1988) Journal of Financial Economics , vol.20 , pp. 347-376
    • Malatesta, P.H.1    Walkling, R.A.2
  • 30
    • 0011503814 scopus 로고
    • Proxy contests, shareholder wealth and operating performance
    • forthcoming
    • Mulherin, J. Harold and Annette B. Poulsen, 1994, Proxy contests, shareholder wealth and operating performance, Journal of Financial Economics, forthcoming.
    • (1994) Journal of Financial Economics
    • Mulherin, J.H.1    Poulsen, A.B.2
  • 31
    • 0011450605 scopus 로고
    • Do target shareholders lose in unsuccessful control contests?
    • Alan Auerbach, ed., (University of Chicago Press, Chicago, IL)
    • Ruback, Richard S., 1988, Do target shareholders lose in unsuccessful control contests?, in: Alan Auerbach, ed., Economic effects of mergers and acquisitions (University of Chicago Press, Chicago, IL).
    • (1988) Economic Effects of Mergers and Acquisitions
    • Ruback, R.S.1
  • 32
    • 0001740117 scopus 로고
    • The effect of poison pill securities on shareholder wealth
    • Ryngaert, Michael, 1988, The effect of poison pill securities on shareholder wealth, Journal of Financial Economics 20, 377-418.
    • (1988) Journal of Financial Economics , vol.20 , pp. 377-418
    • Ryngaert, M.1
  • 36
    • 33845790377 scopus 로고
    • Outside directors and CEO turnover
    • Weisbach, Michael S., 1988, Outside directors and CEO turnover, Journal of Financial Economics 20, 431-459.
    • (1988) Journal of Financial Economics , vol.20 , pp. 431-459
    • Weisbach, M.S.1
  • 37
    • 0001163724 scopus 로고
    • The CEO and the firm's investment decisions
    • Weisbach, Michael S., 1995, The CEO and the firm's investment decisions, Journal of Financial Economics 37, 159-188.
    • (1995) Journal of Financial Economics , vol.37 , pp. 159-188
    • Weisbach, M.S.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.