untersucht. Zweitens betrachten wir die Anreize für das Management von Hedgefonds. Drittens untersuchen wir das Verhalten von …

The effect of severance pay on management behavior during a takeover battle is generally ambiguous. Yet, the severance … still benefits from the increase in the merged firm's total value. Moreover, given that the managers are compensated … according to an identical linear incentive scheme, the optimal shareholder policy always entails a corner solution. Managers …