which shareholders monitored and exercised voice to one where there was more reliance on external forces and exiting …

Essay highlights an important consequence of this approach: a new agency problem between managers and shareholders regarding …

premiums when shareholder rights are more restricted. These findings imply that managers use shareholders' funds to eliminate …

-family firms and their acquisition activity. This finding is consistent with the view that controlling family shareholders provide …

Do merger bonuses to target CEOs facilitate a wealth transfer from target to acquirer shareholders? We test this … when merger bonuses are present in deals where targets exhibit high pre-takeover abnormal accruals or are subject to SEC …

When a company establishes subsidiaries with capital provided by a third party, the subsidiaries' shareholders include … the parent company (controlling shareholders) and minority (noncontrolling) shareholders. When shareholders' interests are … conflicts among shareholders are called principal-principal (PP) conflicts. However, adopting stakeholder-oriented corporate …

institutional shareholders should play in governing the corporation. In the US this discussion is around the idea of shareholder …

. We find that: (1) PSP sponsors successfully identify firms that suffer from a misalignment of managers and shareholders …' interests; (2) CEOs' pay-for-performance sensitivity increases in the post-proposal period; and (3) shareholders benefit through … performance (NPSPs). Collectively, our results indicate that shareholders benefit from this pay-performance activism through PSPs …