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Failed takeover attemps
Hostile takeover attempts oftentimes signal that a target firm has an over-diversified and ineffective corporate strategy. What does this signal mean when takeover attempts fail? Drawing from agency theory, it is argued that target firms managed by independent directory boards are likely to ignore the takeover attempt and not refocus their firms' strategy. Conversely, target firms managed by nonindependent boards are more likely to view the failed takeover attempt as a 'wake-up call' and will refocus their firms' strategy so as to preserve the firm's survival. These arguments are tested using a sample of 76 firms that were targets of failed hostile takeover attempts. Logistic regression analyses confirm the predictions. This study suggests that in the aftermath of a failed takeover attempt board of director characteristics can help predict changes in corporate strategies..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | John Wiley & Sons., |
|---|---|
| Edisi | - |
| Subjek | Strategic management Corporate governance Agency theory Boards of directors studies Hostile takeovers Failure |
| ISBN/ISSN | 1432095 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |