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Governance mechanisms and equity prices

Cremers, K.J Martijn - ; Nair, Vinay B - ;

We investigate how the market for corporate control ( external governance ) and share - holder activism ( internal governance ) interact. A portfolio that buys firms with the highest level of takeover vulnerability and shorts firms with the lowest level of takeover vulnerability generates an annualized abnormal return of 10 % to 15 % only when public pension fund ( blockholder ) ownership is high as well..Printed Journal


Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit: The American Finance Association
Edisi-
SubjekEquity
Corporate control
ISBN/ISSN00221082
Klasifikasi-
Deskripsi Fisik-
Info Detail Spesifik-
Other Version/RelatedTidak tersedia versi lain
Lampiran BerkasTidak Ada Data

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