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Manager Replacement, Employee Protesting and Corporate Control

Guo, Bing - 2009

When faced with replacement threat, incumbent managers can look for support from employees to keep their position, by investing in an employee-friendly relationship. Enjoying such relationship, employees will help managers to preserve their job by protesting against shareholders. Interestingly,...

Persistent link: https://www.econbiz.de/10014202202

What Actually Causes Management to Resist a Takeover Bid : Managerial Entrenchment or Price Improvement?

Carline, Nicholas F. - 2019

Using instrumental variables, we find that having more antitakeover provisions is not only more likely to prevent a bid but also more likely to cause management resistance in the event of not doing so. The deterrent effect is likely to be decreasing in the cost to rival bidders of acquiring...

Persistent link: https://www.econbiz.de/10012864334

Employee Ownership : Management Entrenchment vs. Reward Management

Lapied, André - 2011

Employee ownership is often used as a reward management tool but also as entrenchment mechanism. This paper develops a model suggesting that employee ownership policy reveals management quality. Good managers would use employee ownership as a reward management tool whereas bad managers would...

Persistent link: https://www.econbiz.de/10013125539

Employee Ownership : Management Entrenchment vs. Reward Management

Aubert, Nicolas S. - 2011

Previous literature shows that employee ownership can be used as a reward management tool or as entrenchment mechanism. This paper develop a model suggesting that employee ownership policy reveals management quality. Good managers would use employee ownership as a reward management tool whereas...

Persistent link: https://www.econbiz.de/10013128653

Has the Threat of a Takeover Improved the Management of Target Firms? An Analysis of Firms in Which M&A Consulting, Japan's First Hostile Bidder, Acquired Stakes

Kruse, Timothy A. - 2009

This paper examines the new development of hostile takeovers and shareholder activism in Japan. The hostile bidders … claim that the threat of takeover which they pose on the management of a poorly managed company is not only to their benefit … value. Nearly a decade having passed since the first-ever hostile TOB attempt in Japan by M&A Consulting (MAC), an …

Persistent link: https://www.econbiz.de/10013154492

Aktienbasierte Langfristanreize im Rahmen der Vorstandsverguetung: Evidenz auf Basis Deutscher Prime Standard Unternehmen

Rapp, Marc Steffen; Schaller, Philipp; Wolff, Michael - 2009

While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were invented only some ten years ago. Even in 1996 firms faced considerable regulatory difficulties when willing to grant such incentives. In the meantime the legal environment has...

Persistent link: https://www.econbiz.de/10010305700

Managerial control inside the firm

Hirota, Shinichi; Kawamura, Kohei - 2005

This paper proposes an implicit control mechanism of managers inside the firm. We argue that the need to motivate workers may make it beneficial for a self-interested, short-sighted manager to pursue long-run viability of the firm. When the firm is in a stable environment, this implicit control...

Persistent link: https://www.econbiz.de/10010332257

Determinants of the Adoption and Performance Effects of Value-Based Management Systems in Germany

Brück, Christian - 2017

This paper examines the economic determinants that lead German firms to adopt value-based management and control systems (VBMSs). Further, we investigate whether firms' operating performance improves after VBMS adoption. Using a hand-collected data set of German listed firms covering 1,575...

Persistent link: https://www.econbiz.de/10012949617

Case Study : Analysis of Corporate Governance and Management Control at Kendallville Bank

Eisenberg, Paul - 2016

The present paper addresses the case study of a financial institution, the Kendallville Bank, developed by The Anti-Fraud Collaboration. The constituents of the Collaboration are the Center for Audit Quality, Financial Executives International, the National Association of Corporate Directors,...

Persistent link: https://www.econbiz.de/10012984485

Large Shareholders and the Pressure to Manage Earnings

Guthrie, Katherine - 2012

We present empirical evidence that firms inflate earnings around seasoned equity offerings in the presence of large outsider blockholdings, but not in their absence. The finding is robust to several alternative explanations, including differences in firm characteristics, growth, performance, CEO...

Persistent link: https://www.econbiz.de/10013116721