The Performance of White Knight Management
This paper finds that, on average, white-knight managers have previously made bad investment decisions and their value-decreasing bids are thus part of a pattern of bad investment decisions, but that there is almost no tendency for shareholders to replace these inefficient managers.
Year of publication: |
1998
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Authors: | Carroll, Carolyn ; Griffith, John M. ; Rudolph, Patricia M. |
Published in: |
Financial Management. - Financial Management Association - FMA. - Vol. 27.1998, 2
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Publisher: |
Financial Management Association - FMA |
Saved in:
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