How and to what extent do managerial control benefits shape the efficiency of the takeover market? We revisit this … dark side, managers' private benefits of control distort firms' takeover incentives and hinder the reallocation role of the … takeover market. On the bright side, fear of a takeover induces underperforming managers to exert more effort and enhances the …

equity owned firms. Among public companies, purpose is lower for firms with high hedge fund ownership and higher for firms …

reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence …

empire-building CEOs. The prospect of a future takeover means that CEOs with no ownership stake will over-invest in some …'s position in a hostile takeover induce raiders to launch friendly takeovers sooner. The increased takeover threat induces CEOs … takeover gains are high. Optimal ownership-generated incentives and the market for corporate control add more value after …

increases the positive assortative matching between directors and firms: high-quality firms improve the quality of their boards …

their boards, while lower-quality firms attract lower quality directors. The effect arises from a more active re …-matching along the high-speed train line. Our results further suggest that the private firms' boards with higher quality directors …

This paper examines the impact of managerial ownership on cash holding decisions of the firms listed in Borsa Istanbul … ownership and cash holding is found. The findings indicate that managerial ownership aligns the interests of managers with those … of shareholders. These firms with managerial ownership prefer to hold less cash. In addition, it is reported that at …