Investigates the relationship between management ownership and market valuation of the firm, as measured by Tobin's Q …. The convergence-of-interest hypothesis suggests that a firm's market valuation should rise as its management owns an … increasingly large portion of the firm. On the other hand, the entrenchment hypothesis suggests that as management increases its …

Compared to an average Fortune 500 firm, a target of a hostile takeover is smaller, older, has a lower Tobin's Q … results suggest that the motive for a takeover often determines its mood. Thus disciplinary takeovers are more often hostile …

We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a …

We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a …